Rakesh sold 150 chairs and had a gain equal to the selling price of 75 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 100%.
150SP - 150CP = 75SP
CP/SP = 75/150 = 1/2
Profit % = [(2 - 1)/1] × 100 = 100%