Tushar sold 150 chairs and had a gain equal to the selling price of 50 chairs. What is his profit percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 50%.
Let SP per chair = s and CP per chair = c
Total profit = SP of 50 chairs ⇒ 50s
Also total profit = total SP − total CP ⇒ 150s − 150c
So 150s − 150c = 50s
⇒ 150(s − c) = 50s
⇒ 3(s − c) = s
⇒ 3s − 3c = s
⇒ s/c = 3/2
Profit% = [(3 - 2)/2] × 100 = 50%