I purchase 100 kg of tea and sell it for a profit to the extent of what I would have paid for 40 kg. What is my profit percentage?
Answer & explanation
Correct answer: option 1
According to the question
100 SP - 100 CP = 40 CP
100 SP = 140 CP
CP : SP = 100 : 140
Profit = 140 - 100 = 40