Question 84

A shopkeeper by selling 23 Lotto shoes, earns a profit equal to the selling price of 7 Lotto shoes. His profit percentage is

Solution

Let Cost price of 1 shoe = Rs. x

Let Selling price of 1 shoe = Rs. y

Profit of 23 shoes = Rs. 23 (y - x)

According to ques, => $$23(y - x) = 7y$$

=> $$23y - 23x = 7y$$

=> $$23x = 23y - 7y = 16y$$

=> $$\frac{y}{x} = \frac{23}{16}$$

$$\therefore$$ Profit % = $$\frac{y-x}{x} \times 100$$

= $$\frac{7}{16} \times 100 = 43.75\%$$

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