Question

The cost price of 100 mangoes is equal to the selling price of 80 mangoes. What is the percentage profit?

Answer 1

20% i guess will be correct

Answer 2

SOLUTION

GIVEN

The cost price of 100 mangoes is equal to the selling price of 80 mangoes.

TO DETERMINE

The profit percentage

CONCEPT TO BE IMPLEMENTED

Cost Price : The amount paid to purchase an article or the price at which an article is made is known as cost price

Selling price : The amount at which an article is sold is known as selling price

Profit : If the selling price is greater than cost price the difference between selling price and cost

price is called profit

Profit = Selling price - Cost price

EVALUATION

Let price of each mangoes = Rs. x

Now it is given that cost price of 100 mangoes is equal to the selling price of 80 mangoes

So total cost price = Rs. 80x

Total selling price = Rs. 100x

So profit = Rs ( 100x - 80x ) = Rs 20x

Hence the required profit percentage

$\displaystyle \sf{ = \frac{20x}{100x} \times 100 \%}$

$\displaystyle \sf{ = 20 \: \%}$

FINAL ANSWER

The profit percentage = 20%

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