If a shopkeeper buys a certain number of items for a certain sum and sells a fraction of the said number for the same amount, then his profit is 300%.What is the fraction?
Answer & explanation
Correct answer: option 1
To gain 300% profit, the Rs.100 article must be sold in Rs.400.
Therefore,
C.P. = Rs.100
S.P. = Rs.400
Profit = Rs.300
So, the fraction of part must be= \(\frac{100}{400}\) = \(\frac{1}{4}\)