Kanchan sold 153 chairs and had a gain equal to the selling price of 78 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 104%.
Profit = selling price of 78 chairs
Cost price = selling price of 75 chairs (since 153 - 78 = 75)
Profit % = (78 / 75) × 100 = 104%