Question

A greedy shopkeeper sells 18 items at a price equal to his purchase price of 21 items. What is his profit percentage?
15.57%
17.77%
14.29%
16.67%​

Answer 1

Given,

Selling price of 18 items = Purchasing price of 21 items

To find,

The profit percentage.

Solution,

We can simply solve this mathematical problem by using the following mathematical process.

Let, the purchasing price of 1 item = Rs. x

Purchasing price of 21 items = Rs. 21x

Selling price of 18 items = Rs. 21x

Selling price of 1 item = Rs. 21x/18

Profit = 21x/18 - x = 21x-18x/18 = 3x/18 = Rs. x/6

Profit percentage = 100 × x/6 ÷ x = 100 × x/6 × 1/x = 16.67%

Hence, the profit percentage is approximately 16.67%