A. 3.5
B. 4.5
C. 5.6
D. 6.5
Check Answer
The correct answer is “5.6 %“
Step by step Solution:
We are given,
a) 20 dozen toys, each dozen toys have a cost price of RS. 375
b) 1 toy selling price is RS. 33
Now to find 1 toy cost price, we will divide 1 dozen toys cost price by 12, as we know dozen contains 12 items. so,
\text { C.P. }=\text { Rs. }\left(\frac{375}{12}\right)
The cost price of 1 toy = 31.25
Now we have both cost price and selling price of 1 toy, so we can calculate the profit percentage by given formula.
Profit % = \frac{Selling price-Cost price}{Cost price} \times 100
By putting value, we will have;
Profit % = \frac{RS. 33-RS. 31.25}{RS. 31.25} \times 100
Profit % = \frac{28}{5}\%
Profit % = 5.6%
Hence, Sam has a percentage profit of 5.6
Note:
You can also solve this problem by first calculating the profit amount and then applying the profit% formula, but it will be lengthy, also data of 20 dozen is irrelevant and we don’t need that data to find profit %.
Profit% and Gain % are interchangeable names of each other.
Step by step Solution:
We are given,
a) 20 dozen toys, each dozen toys have a cost price of RS. 375
b) 1 toy selling price is RS. 33
Now to find 1 toy cost price, we will divide 1 dozen toys cost price by 12, as we know dozen contains 12 items. so,
\text { C.P. }=\text { Rs. }\left(\frac{375}{12}\right)
The cost price of 1 toy = 31.25
Now we have both cost price and selling price of 1 toy, so we can calculate the profit percentage by given formula.
Profit % = \frac{Selling price-Cost price}{Cost price} \times 100
By putting value, we will have;
Profit % = \frac{RS. 33-RS. 31.25}{RS. 31.25} \times 100
Profit % = \frac{28}{5}\%
Profit % = 5.6%
Hence, Sam has a percentage profit of 5.6
Note:
You can also solve this problem by first calculating the profit amount and then applying the profit% formula, but it will be lengthy, also data of 20 dozen is irrelevant and we don’t need that data to find profit %.
Profit% and Gain % are interchangeable names of each other.
