Sachin sold 153 chairs and had a gain equal to the selling price of 85 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 125% .
Number of chairs sold = 153
Gain = Selling price of 85 chairs
Profit % = (Gain ÷ Cost price) × 100
Cost price of 153 chairs = Selling price − Gain = 153 − 85 = 68 chairs (in terms of SP of 1 chair)
Profit % = (85 ÷ 68) × 100 = 125%