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A shopkeeper by selling 6 items, earns a profit equal to the selling price of 1 item. What is his profit percentage?
- a)20
- b)25
- c)30
- d)35
Correct answer is option 'A'. Can you explain this answer?
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To solve this problem, let's break it down step by step:
1. Let's assume the cost price of each item is 'x'.
2. Since the shopkeeper earns a profit equal to the selling price of 1 item, the selling price of each item is 'x + x = 2x'.
3. The profit earned by selling 6 items is equal to the selling price of 1 item, which is '2x'.
4. The profit percentage can be calculated using the formula:
Profit Percentage = (Profit / Cost Price) * 100
Now, let's substitute the values into the formula:
Profit Percentage = (2x / 6x) * 100
Simplifying this equation, we get:
Profit Percentage = (2/6) * 100
Profit Percentage = 1/3 * 100
Profit Percentage = 100/3 ≈ 33.33%
Since the answer options are given in whole numbers, we need to round the profit percentage to the nearest whole number. Rounding 33.33% to the nearest whole number gives us 33%.
Therefore, the correct answer is option A) 20.
Explanation: The answer options provided are incorrect. The correct profit percentage is 33.33%, which is not listed among the options. Thus, none of the given options are correct for this question.
1. Let's assume the cost price of each item is 'x'.
2. Since the shopkeeper earns a profit equal to the selling price of 1 item, the selling price of each item is 'x + x = 2x'.
3. The profit earned by selling 6 items is equal to the selling price of 1 item, which is '2x'.
4. The profit percentage can be calculated using the formula:
Profit Percentage = (Profit / Cost Price) * 100
Now, let's substitute the values into the formula:
Profit Percentage = (2x / 6x) * 100
Simplifying this equation, we get:
Profit Percentage = (2/6) * 100
Profit Percentage = 1/3 * 100
Profit Percentage = 100/3 ≈ 33.33%
Since the answer options are given in whole numbers, we need to round the profit percentage to the nearest whole number. Rounding 33.33% to the nearest whole number gives us 33%.
Therefore, the correct answer is option A) 20.
Explanation: The answer options provided are incorrect. The correct profit percentage is 33.33%, which is not listed among the options. Thus, none of the given options are correct for this question.
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A shopkeeper by selling 6 items, earns a profit equal to the selling price of 1 item. What is his profit percentage?a)20b)25c)30d)35Correct answer is option 'A'. Can you explain this answer?
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