Question 74
By selling 120 mangoes, a shopkeeper gains the selling price of 20 mangoes. Find his profit percentage.
Solution
Let's assume the selling price and cost price of each mango is 'SP' and 'CP' respectively.
By selling 120 mangoes, a shopkeeper gains the selling price of 20 mangoes.
120SP-120CP = 20SP
6SP-6CP = SP
6SP-SP = 6CP
5SP = 6CP
$$\frac{5}{6}=\frac{CP}{SP}$$
profit percentage = $$\frac{SP-CP}{CP}\times\ 100$$
= $$\frac{6-5}{5}\times\ 100$$
= $$\frac{1}{5}\times\ 100$$
= 20%
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