Question : A fruit dealer gets the cost price of 60 bananas by selling 40 bananas. What is the profit percentage?
Option 1: 45%
Option 2: 50%
Option 3: 55%
Option 4: 30%
Correct Answer: 50%
Solution :
Let the cost price of one banana as C and the selling price of one banana as S.
Given that the cost price of 60 bananas is equal to the selling price of 40 bananas.
⇒ 60C = 40S
⇒ S = 1.5C
This means the selling price is 1.5 times the cost price or 150% of the cost price.
Profit = Selling price – Cost price = 1.5C – C = 0.5C
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}$ × 100%
= $\frac{\text{0.5C}}{\text{C}}$ × 100%
= 50%
Hence, the correct answer is 50%.
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