Question : A person bought some pens at the rate of 14 for a rupee and sold them at the rate of 10 for a rupee. What is the profit percentage?
Option 1: 30%
Option 2: 50%
Option 3: 45%
Option 4: 40%
Correct Answer: 40%
Solution :
Given: A person bought some pens at the rate of 14 for a rupee and sold them at the rate of 10 for a rupee.
Profit percentage = $\frac{SP–CP}{CP}×100$, where SP is the selling price and CP is the cost price.
= $\frac{14–10}{10}\times 100$
= $\frac{4}{10}\times 100$
= $40$%
Hence, the correct answer is 40%.
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