Question

A shopkeeper sells his article at 16*2/3% profit on S.P. Find his actual profit. (explain with trick if possible).​

Answer 1

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A shopkeeper sells his article at 16*2/3% profit on S.P. Find his actual profit. (explain with trick if possible).

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For curricular and extra-curricular.

Let's see what we have here. A shopkeeper sold Item X for a his selling price (SP).

Let SP = x

Since the question says that Profit is 25% of the selling price, we have:

Profit = 25% SP = 0.25x

Now, we already know that:

Profit = SP - Cost

This part is the catch. To find out how much Item X originally cost,

Cost = SP - Profit = x - 0.25x = 0.75x

Now that we know the original cost of Item X, we can easily calculate the Real profit % using this formula:

= (Profit/Cost)*100

= (0.25x/0.75x)*100

= 33%

And there you have it. Hope I explained it clear enough.