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A shopkeeper wrongly calculates his profit on SP and finds it to be 25%. What is the actual profit percentage?
- a)20%
- b)33.33%
- c)40%
- d)25%
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A shopkeeper wrongly calculates his profit on SP and finds it to be 25...
Let SP = Rs 100
Profit = Rs 25
CP = Rs 75
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A shopkeeper wrongly calculates his profit on SP and finds it to be 25...
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A shopkeeper wrongly calculates his profit on SP and finds it to be 25...
Given: Profit percentage calculated on SP = 25%
To find: Actual profit percentage
Let's assume the cost price (CP) of the item is Rs. 100.
According to the given problem, the shopkeeper has calculated the profit on selling price (SP) as 25%. This means that he has added 25% of SP to the cost price to get the selling price.
Profit = SP - CP
25% of SP = 0.25 * SP
SP = CP + 0.25 * SP
0.75 * SP = CP
SP/CP = 1/0.75
SP/CP = 4/3
Now, let's calculate the selling price using the formula SP = 4/3 * CP.
SP = 4/3 * 100 = Rs. 133.33
So, the shopkeeper has sold the item for Rs. 133.33 and calculated his profit as 25% on this selling price.
Profit = SP - CP
Profit = 133.33 - 100 = Rs. 33.33
Profit percentage = (Profit/CP) * 100
Profit percentage = (33.33/100) * 100 = 33.33%
Hence, the actual profit percentage is 33.33%, which is option (b).
To find: Actual profit percentage
Let's assume the cost price (CP) of the item is Rs. 100.
According to the given problem, the shopkeeper has calculated the profit on selling price (SP) as 25%. This means that he has added 25% of SP to the cost price to get the selling price.
Profit = SP - CP
25% of SP = 0.25 * SP
SP = CP + 0.25 * SP
0.75 * SP = CP
SP/CP = 1/0.75
SP/CP = 4/3
Now, let's calculate the selling price using the formula SP = 4/3 * CP.
SP = 4/3 * 100 = Rs. 133.33
So, the shopkeeper has sold the item for Rs. 133.33 and calculated his profit as 25% on this selling price.
Profit = SP - CP
Profit = 133.33 - 100 = Rs. 33.33
Profit percentage = (Profit/CP) * 100
Profit percentage = (33.33/100) * 100 = 33.33%
Hence, the actual profit percentage is 33.33%, which is option (b).
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