Rodney sold 153 chairs and had a gain equal to the selling price of 63 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e.70%.
Profit = (SP − CP)
153 SP - 153 CP = 63 SP
SP/CP = 153/90 = 17/10
Profit% = (SP − CP)/CP × 100 = [(17 - 10)/10] × 100= 70%