Rakesh sold 154 chairs and had a gain equal to the selling price of 66 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 75%
Let selling price of 1 chair = 1
So, selling price of 154 chairs = 154
Profit = selling price of 66 chairs = 66
Hence, cost price = 154 − 66 = 88
Profit % = (Profit ÷ Cost price) × 100
= (66 ÷ 88) × 100 = 75%