Pramod sold 154 chairs and had a gain equal to the selling price of 54 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 54%.
Gain = Selling price of 54 chairs
So, Profit = SP × 54
Total SP = SP × 154
Profit % = (Profit / Cost Price) × 100
Cost Price = SP × (154 − 54) = SP × 100
Profit % = (SP × 54) / (SP × 100) × 100 = 54%