Question

Furniture seller expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit in rupees ?
1. Rs. 72
2. Rs. 100
3. Rs. 40
4. can't be determined 
5. None of these

Answer 1

Correct Answer - Option 1 : Rs. 72

Given:

Gain = 22.5% on cost price 

Formula:

Profit % = (Profit/CP) × 100

cost price = [selling price/(100 + profit%)] × 100

Calculation: 

Cost Price = Rs.(100/122.5) ​× 392

⇒ Rs.(1000/1225)​ × 392 = Rs 320

Profit = Rs.(392 − 320)

⇒ Rs.72

∴ His profit on Furniture selling is Rs. 72.