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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. 600
Now, 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 = 500
Thus,
Difference is 600 - 500 = Rs.100

This Question Belongs to Arithmetic Ability >> Profit And Loss

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Comments ( 2 )

  1. Mostafa Kamal
    Mostafa Kamal :
    4 years ago

    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

  2. Md. Soyebur
    Md. Soyebur :
    6 years ago

    Correct answer is Option B: Rs. 100

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