Question 51

The selling price of 15 oranges is the same as the cost price of 19 oranges. What is the approximate profit percentage?

Solution

The selling price of 15 oranges is the same as the cost price of 19 oranges.

SP = selling price and CP = cost price.

$$15\times\ SP\ =\ 19\times\ CP$$

$$\frac{15}{19}=\frac{CP}{SP}$$

Approximate profit percentage = $$\frac{SP-CP}{CP}\times\ 100$$

= $$\frac{19-15}{15}\times\ 100$$

= $$\frac{4}{15}\times\ 100$$

= 26.67%

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