Question : A man sold 250 chairs and had a gain equal to the selling price of 50 chairs. His profit percent is:
Option 1: 20%
Option 2:
25%
Option 3:
50%
Option 4:
15%
Correct Answer:
25%
Solution :
Here, SP is the selling price and CP is the cost price.
We know that,
Gain = SP – CP
SP of 250 chairs – CP of 250 chairs = SP of 50 chairs
⇒ SP of 200 chairs = CP of 250 chairs
Gain = 250 – 200 = 50
$\therefore$ Profit percentage $=\frac{\text{Gain}}{\text{Cost price}}×100= \frac{50}{200}×100= 25\%$
Hence, the correct answer is 25%.
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