The cost price of 12 bananas is equal to the sale price of 10 bananas. What is the percentage of profit?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 20%.
Cost price (CP) of 12 bananas = Sale price (SP) of 10 bananas
Let the cost price of one banana = x
So, CP of 12 bananas = 12x
Sale price of 10 bananas = 12x (from above)
So, SP of one banana = 12x / 10 = 1.2x
Profit per banana = SP - CP = 1.2x - x = 0.2x
Percentage profit = (Profit / CP) × 100 = (0.2x / x) × 100 = 20%