Question : A notebook was sold for Rs. 28, at a profit of 12%. If it had been sold for Rs. 26.25, what would have been the profit percentage?
Option 1: 5%
Option 2: 7%
Option 3: 4%
Option 4: 6%
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Correct Answer: 5%
Solution :
Given: A notebook was sold for Rs. 28, at a profit of 12%.
The selling price (SP) is Rs. 28 and the profit is 12%.
Then, cost price (CP) is $\frac{SP × 100}{100 + \text{Profit%}}$.
So, CP $= \frac{28 × 100}{100 + 12}=\frac{2800}{112} = 25$
If SP is Rs. 26.25, the profit percentage will be $\frac{SP – CP}{CP} × 100$
$=\frac{26.25 – 25}{25} × 100 = 5$%
Hence, the correct answer is 5%.
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