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A vendor bought bananas at 6 for a rupee. How many for a rupee must he sell to gain 20%?
- a)3
- b)4
- c)5
- d)6
Correct answer is 'C'. Can you explain this answer?
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Solution:
To gain 20% profit, the selling price must be 120% of the cost price.
Let's assume that the cost price of 1 banana is 1/6 rupee.
Then, the selling price of 1 banana to gain 20% profit would be:
= (120/100) x (1/6)
= 1/5 rupee
Therefore, the vendor needs to sell 5 bananas for 1 rupee to gain a 20% profit.
Hence, the correct answer is option (C) 5.
To gain 20% profit, the selling price must be 120% of the cost price.
Let's assume that the cost price of 1 banana is 1/6 rupee.
Then, the selling price of 1 banana to gain 20% profit would be:
= (120/100) x (1/6)
= 1/5 rupee
Therefore, the vendor needs to sell 5 bananas for 1 rupee to gain a 20% profit.
Hence, the correct answer is option (C) 5.
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