Question

A man purchases some mangoes at the rate of 24 mangoes for Rs 1. How many mangoes did he sell for a rupee to gain 20% profit?
1. 20
2. 21
3. 18
4. 22

Answer 1

Correct Answer - Option 1 : 20

GIVEN:

A man purchases some mangoes at the rate of 24 mangoes for Rs. 1.

CONCEPT:
Basic concept of Profit and Loss.

FORMULA USED:

SP = CP × [1 + Profit/100]

CALCULATION:

Given, CP of 24 mangoes is Rs. 1.

⇒ CP per mango = Rs 1/24

Also,

Profit = 20 % of CP = 1/5 CP

So,

SP = CP + Profit = 6/5 CP.

⇒ SP per mango = Rs 6/5 × 1/24 = 1/20

Since, SP of 1 mango = Rs 1/20

⇒ No. of Mangoes sold for Rs. 1 = 20