A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

A. Rs. 18.20
B. Rs. 70
C. Rs. 72
D. Rs. 82.20

Check Answer

The correct answer is “Rs. 72”.
Step by Step Solution:
According to the problem statement, the expected gain on cost price (CP) is 22.5%, while the expected sale price is RS. 392.

We are given the gain % of 25% and the sale price of RS. 392, while cost price is unknown, so we will first find cost price.
According to the profit % or gain %,

\text { (gain) } \%=\frac{\text { selling price }-\cos t \text { price }}{\cos t \text { price }} \times 100

22.5 =\frac{392-C P}{C P} \times 100

\frac{22.5}{100} C P=392-C P

0.225 CP = 392−CP

Now, taking -CP from right side to left side of the equation, it will become +CP

0.225 CP+CP = 392

1.225 CP =3 92

Divide both sides by 1.225, we have

C P=\frac{392}{1.225}


Now we have calculated the cost price, and we already have the sale price, so we can calculate the profit by this formula,

Profit = Sale price – cost price

Profit = RS. 392 – RS. 320

Profit = Rs. 72

So the shopkeeper’s profit is RS. 72
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