Mohan sold 153 chairs and had a gain equal to the selling price of 68 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 80%.
Total chairs sold = 153
Gain = selling price of 68 chairs
So, profit = 68 chairs SP
Total SP = 153 chairs SP
Total CP = 153 SP – 68 SP = 85 SP
Profit % = (Profit ÷ CP) × 100
= (68 ÷ 85) × 100
= 80%