Question
Download Solution PDFA person bought 8 identical items for a total of 20. If he sells each of these for Rs2.6, his profit percentage will be ______ %.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Number of items bought = 8
Total cost price (CP) = ₹20
Selling price (SP) of each item = ₹2.6
Formula Used:
Total selling price = Selling price per item × Number of items
Profit = Total selling price - Total cost price
Profit percentage = (Profit / Total cost price) × 100
Calculation:
Total selling price of 8 items = 2.6 × 8 = ₹20.8
Profit = Total selling price - Total cost price = 20.8 - 20 = ₹0.8
Profit percentage = (Profit / Total cost price) × 100
Profit percentage = (0.8 / 20) × 100
Profit percentage = (8 / 200) × 100
Profit percentage = 0.04 × 100
Profit percentage = 4%
His profit percentage will be 4%.
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