A shopkeeper bought toffees at a rate of 10 for ₹ 15 and sold them at a rate of 16 for ₹ 40. Find his profit percentage. (correct to two decimal places)
Answer & explanation
Correct answer: option 4
According to the question,
quantity rate
CP 10 15 ----(1)
SP 16 40 ----(2)
Quantity same
Multiply by 8 in equation 1, and multiply by 5 in equation 2
⇒ CP 80 120
⇒ SP 80 200
80 toffees CP is 120, and SP is 200
⇒ Profit% = \(\frac{200 - 120}{120}\) × 100
⇒ Profit% = 66.67%