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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