A man bought 100 mangoes at a certain price, with the intention of selling each at a profit of 25%. But 20 mangoes got spoilt. If he sold the rest at the intended price, what was his profit or loss percentage?
Answer & explanation
Correct answer: option 1
Let the price be Rs. 10, selling at a profit of 25% i.e. SP = 12.5
Total cost = 100 x 10 = 1000
Total revenue after 20 mangoes got spoilt = 80 x 12.5 = 1000
Thus, there is no profit no loss situation.