A shopkeeper calculate percentage profit on the buying price and another on the selling price. What will be their difference in profits if both claim a profit of 20% on goods sold for Rs. 3000?
A. Rs. 200
B. Rs. 100
C. Rs. 150
D. Rs. 400
E. None of these
Answer: Option B
Solution(By Examveda Team)
For 20% profit on selling price means $$\frac{1}{5}$$ of 3000 i.e. Rs. 600Now, let the CP = Rs. 100, Then,
SP with 20% profit = Rs. 120
For 20% profit on selling price means cost is 100 + profit is 20 = selling price is 120.
Means selling price is 120% of cost price.
Now selling price is 120% ie 3000 then find 100% amount which will be cost.
Cost = $$\frac{{3000}}{{120}}\% $$
= $$\frac{{3000}}{{\frac{6}{5}}}$$
Because, 120% = $$\frac{6}{5}$$
= 3000 x $$\frac{5}{6}$$
= 2500
Cost is 2500
Thus profit is 20% i.e. $$\frac{1}{5}$$ x 2500 = 500Thus,
Difference is 600 - 500 = Rs.100
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Comments ( 2 )
Related Questions on Profit and Loss
A. 45 : 56
B. 45 : 51
C. 47 : 56
D. 47 : 51
A. Rs. 2600
B. Rs. 2700
C. Rs. 2800
D. Rs. 3000
A. A neither losses nor gains
B. A makes a profit of 11%
C. A makes a profit of 20%
D. B loses 20%
A. Rs. 3,750
B. Rs. 3,250
C. Rs. 2,750
D. Rs. 2,250
CP₁ : SP₁ = 5 : 6 = 25 : 30
CP₂ : SP₂ = 4 : 5 = 24 : 30
Now, 30 units ≡ Rs. 3,000
Then, (6 - 5) i.e 1 units ≡ Rs.100
Correct answer is Option B: Rs. 100