Ravi purchases 9 apples for ₹9.60 and sells them at the rate of 11 apples for ₹12. Determine his overall profit or loss percentage.
Show answer & explanation
Correct answer: A
Explanation
Given:
Cost Price (CP) of 9 apples = ₹9.60
Selling Price (SP) of 11 apples = ₹12
According to the formula:
Profit % = [(SP − CP) / CP] × 100
Taking the LCM, let us assume a quantity of 99 apples.
CP = (99/9) × 9.60 = 11 × 9.60 = 105.6
SP = (99/11) × 12 = 9 × 12 = 108
Profit = 108 − 105.6 = 2.4
Profit % = (2.4 / 105.6) × 100
= (24/1056) × 100
= (1/44) × 100
= 25/11 %