Question

If the cost price of a fan is Rs. 720/=and its selling price is Rs. 840/=, find its% profit_ option a) 18% b) 16 2/3 % c) 16 1/3% d) 16 1/4%

Answer 1

Given:

Cost price = Rs. 720/-

selling price is Rs. 840/-

To Find:

% Profit

Solution:

Profit price = Selling price - Cost price

= 840 - 720 = 120

Profit = Rs. 120 /-

$Profit \: \: \% = \frac{profit \: price}{cost \: price} \times 100$

Profit % = (120/720) × 100

= (12/72) × 100

= 0.16666 × 100

= 16.666 = 16.67 %

When we check the given options,

$16 \ \frac{2}{3} = \frac{(16 \times 3) + 2}{3}$

$= \frac{48 + 2}{3} = \frac{50}{3} = 16.67\ \%$

Thus, 16 2/3 (option b) is the right answer.