By selling 20 items, a shopkeeper gets a profit equal to the selling price of 5 items. What is his profit percentage?
The correct answer is 33 \frac{1}{3} \%.
From $3 \times \text{SP} = 4 \times \text{CP}$, we get $\text{SP} = \frac{4}{3} \times \text{CP}$. Profit per item = $\text{SP} - \text{CP} = \frac{4}{3} \text{CP} - \text{CP} = \frac{1}{3} \text{CP}$. Profit percentage = $\frac{\text{Profit per item}}{\text{CP per item}} \times 100 \% = \frac{\frac{1}{3} \text{CP}}{\text{CP}} \times 100 \% = \frac{1}{3} \times 100 \% = 33 \frac{1}{3} \%$. This type of problem tests your understanding of the definitions of cost price, selling price, profit, and how profit percentage is calculated.
Similar Questions
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Important Questions from Successive Selling
The increase in the price of a certain item was 25%. Then the price was decreased by 20% and then again increased by 10%. What is the resultant increase in the price?
- The selling price of 24 articles is equal to the cost price of 26 articles. If, due to a change in market conditions, the selling price of each article decreases by $10\%$ and the cost price of each article increases by $5\%$, what will be the new gain or loss percentage (correct to two decimal places)?
Anil bought some articles at 6 for Rs. 8 and sold them at 10 for Rs. 12. His percentage loss or gain is:
The price of an article becomes Rs. 63 after a decrease of 30 percent. Find the original price. (in Rs.)
A man buys an article for 10 percent less than its value and sells it for 10 percent more than its value. His profit or loss percent is:
