Mohan bought an article at 25% less than its marked price and sold it at 15% more than the marked price. Find his profit percentage.
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → \(53\frac{1}{3}\)%
Both prices are given as parts of the marked price, but the profit per cent is always taken on the price Mohan paid, not on the marked price.
Let the marked price be Rs 100
Price Mohan paid \(=100-25=\) Rs 75
Price at which he sold \(=100+15=\) Rs 115
Profit \(=115-75=\) Rs 40
Profit per cent \(\displaystyle =\frac{40}{75}\times100=53\frac{1}{3}\)%
His profit is \(53\frac{1}{3}\)%.