Question

A coal merchant makes a profit of 20% by selling
coal at 25 per quintal. If he sells the coal at 22.50
per quintal, what is his profit per cent on the whole
investment?
(a) 6%
(b) 6.66%
(c) 7.5%
(d) 8%​

Answer 1

120% = 25

100% = 100/120 X25 = 5/6 X 25 = 125/6 = 20.83 Rs = COST

Profit if sold for 22.50 is = 1.67 Rs

Profit % = 1.67 / 20.83 X 100 = 167 / 20.83 = 8.02 % ANSWEr

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Answer 2

Profit percent on the whole investment is 8 %

Solution:

Given that,

A coal merchant makes a profit of 20% by selling  coal at 25 per quintal

Therefore,

Selling price of 1 quintal firewood = Rs 25

Profit = 20 %

Find cost price

selling price = cost price + 20 % of cost price

Let cost price be "x"

25 = x + 20 % of x

$25 = x(1 + 0.20)\\\\25 = 1.2x\\\\x = 20.833$

Thus,

Cost price = Rs 20.833

If, SP = Rs 22.50 then,

$Profit = \frac{SP - CP}{CP} \times 100 \%\\\\Profit = \frac{22.50-20.833}{20.833} \times 100 \%\\\\Profit = 8.001 \approx 8 \%$

Thus profit per cent on the whole investment is 8 %

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