A person buys some bananas at ₹Y per dozen and sells them at ₹$\frac{Y}{4}$ per banana. What is his gain percentage?
Answer & explanation
Correct answer: option 1
Cost price of bananas = y per dozen
Selling price of bananas = ₹$\frac{Y}{4}$ × 12 = 3y per dozen
Profit = 3y - y = 2y
Profit % = \(\frac{2y}{y}\) × 100 = 200%