what is the sale price if you buy honey at Rs 50 per kg and sell it at a profit of 25%
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A shopkeeper purchased 70 kg of potatoes for 420 rupees and sold the whole lot for rupees 6.50 per kg. What will be his gain percentage?
Cost Price: The price, at which an article is purchased, is called its Cost Price, abbreviated as C.P.
Selling Price: The price, at which an article is sold, is called its Selling Price, abbreviated as S.P.
Profit or Gain: If S.P. is greater than C.P., the seller is said to have a Profit or Gain.
Profit or Gain = S.P. - C.P.
Profit or Gain Percentage = (Profit or Gain/ C.P.)*100
Here,
C.P. = 420₹ (for 70 Kg of Potatoes)
S.P. = 6.50 * 70 = 455₹
Gain = 455–420 = 35₹
Gain Percentage = (35/420)*100 = 8.33 %
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