Question : A man sold 150 chairs and had a gain equal to the selling price of 25 chairs. Find his profit percentage.
Option 1: 18%
Option 2: 15%
Option 3: 20%
Option 4: 13%
Correct Answer: 20%
Solution :
Given: A man sold 150 chairs and had a gain equal to the selling price of 25 chairs.
Let the selling price of a chair be $x$.
Then the total selling price (SP) = 150$x$
Total gain = 25$x$
So, the total cost price (CP) = (150$x$ – 25$x$) = 125$x$
Therefore, profit percentage = $\frac{\text{Profit}}{\text{CP}}×100$
= $\frac{25x}{125x}×100$
= 20%
Hence, the correct answer is 20%.
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