A car is sold for Rs 2,400 at a profit of 20% over SP What is the actual profit percentage?

a)
16.66%

b)
25%

c)
21.21%

d)
14.28%

Correct answer is option 'B'. Can you explain this answer?

Question

A car is sold for Rs 2,400 at a profit of 20% over SP What is the actual profit percentage?a)16.66%b)25%c)21.21%d)14.28%Correct answer is option 'B'. Can you explain this answer?

Accepted Answer

Answer

Answer

25

Answer

Given: Selling price (SP) = Rs 2,400, Profit percentage (P%) = 20%

To find: Actual profit percentage

Formula: Profit percentage (P%) = (Profit / Cost price) × 100

Where, Cost price (CP) = SP - Profit

Calculation:

Let's assume the cost price of the car to be CP.

Given, SP = Rs 2,400 and P% = 20%

We know, P% = (Profit / CP) × 100

∴ Profit = (P% × CP) / 100

Given, P% = 20%

∴ Profit = (20 × CP) / 100 = 0.2CP

∴ CP = SP - Profit = 2,400 - 0.2CP

Solving for CP, we get CP = Rs 2,000

Actual profit percentage = (Profit / CP) × 100

= (400 / 2,000) × 100

= 20%

Therefore, the actual profit percentage is 25%.

Hence, option B is the correct answer.

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