Rohan purchased tables at the rate of Rs. 275 per table. If he sells 16 tables for Rs. 5060, then what will be the profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 15%
Rohan purchased tables at the rate of Rs. 275 per table.
CP of 1 table = 275 Rs.
If he sells 16 tables for Rs. 5060
SP of 1 table = 5060/16 = 316.25 Rs.
Profit % = (SP - CP) × 100/CP
Profit % = (316.25 - 275) × 100/275
Profit % = 4125/275
Profit % = 15%