Question

A vendor sold a dozen bananas at Rs.48 and made a 20% profit. If he had sold them for Rs.60/dozen then he would have made a profit of _______.
1. 40%
2. 60%
3. 50%
4. 25%

Answer 1

Correct Answer - Option 3 : 50%

Given:

S.P of 1 dozen bananas = Rs. 48

Profit % = 20%

Formula used:

C.P = (100 × S.P)/(100 + P%)

Profit = S.P - C.P 

Calculation:

C.P = (100 × 48)/(100 + 20)

⇒ C.P (100 × 48)/120

⇒ C.P = Rs. 40

Now, he had sold them for Rs. 60/dozen

Profit = S.P - C.P 

Profit = Rs. (60 - 40) = Rs. 20

Profit % = (20/40) × 100 = 50%

∴ The profit % is 50%.