A person bought 8 identical items for a total of 20. If he sells each of these for Rs2.6, his profit percentage will be ______ %.

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  1. 4
  2. 5
  3. 85
  4. 3.85

Answer (Detailed Solution Below)

Option 1 : 4
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Detailed Solution

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Given:

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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