If there is a profit of 20% on the cost price of an article, the percentage of profit calculated on its selling price will be -
A. $$8\frac{1}{3}$$ %
B. $$16\frac{2}{3}$$ %
C. 20 %
D. 24 %
Answer: Option B
Solution (By Examveda Team)
$$\eqalign{ & {\text{Let C}}{\text{.P}}{\text{. be Rs}}{\text{. }}x. \cr & {\text{Then,}} \cr & {\text{Profit}} = 20\% {\text{ of Rs}}{\text{. }}x \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{x}{5} \cr & {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}.\left( {x + \frac{x}{5}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{{6x}}{5} \cr & \therefore {\text{Desired profit }}\% \cr & = \left( {\frac{x}{5} \times \frac{5}{{6x}} \times 100} \right)\% \cr & = 16\frac{2}{3}\% \cr} $$This Question Belongs to Arithmetic Ability >> Profit And Loss
Without formula general method...
If cp of article is 100
Getting 20% profit means, = 120 (SP)
Profit = 120-100 = 20
According to question calculate percentage of profit on its sp
= 20% Sp => (20/120)*100
= 16 2/3
Ans B
While calculating desired profit why you have taken C.P/S.P i.e ( x/5 X 5/6x) but the actual formula is (GAIN/C.P)*100 then it becomes
((6x/5-x)/x)*100 = ((x/5*1/x*100)) = 20.