Ranjeet buys 1 kg potato for ₹20 and sells it for ₹25. He also uses a weight of 800 gm in place of 1 kg. What is Ranjeet's actual profit percentage on the sale of 1 kg potato?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 56.25%.
CP for 1000 g = 20
SP for 800 gm = 25
Ranjeet spent ₹20 for 1000 gm (1 kg)
Cost for 800 gm = (20/1000) × 800 = 16
Actual profit = 25 - 16 = 9
Profit percentage = (9/16) × 100 = 56.25%
Therefore, Ranjeet's actual profit percentage on the sale is 56.25%.