23. The profit made by selling 30 m of a cloth equals the
cost price of 6 m of that cloth. Find the profit
percentage.
(1) 25% (2) 20% (3) 16213% (4) 30% +
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Answer:
profit percentage= 20%
Step-by-step explanation:
Let the cost price be denoted by and selling price be denoted by
The amount made after selling 30m of the cloth is .
The cost incurred for the 30 m of the cloth is
The profit made is the difference between these two amounts
Now, if this profit amounts to the cost price of 6 m of the cloth, then we can form the following equation
Therefore, the selling price is 120% of the cost price
Thus, the percentage profit is (120-100=20)%
profit percentage= 20%
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