Question : A person bought some pens at the rate of 30 for a rupee and sold them at the rate of 20 for a rupee. What is the profit percentage?
Option 1: 50%
Option 2: 66.66%
Option 3: 75%
Option 4: 33.33%
Correct Answer: 50%
Solution :
Cost price of 30 pens = INR 1
Cost price of 1 pen = $\frac{1}{30}$
Selling price of 20 pens = INR 1
Selling price of 1 pen = $\frac{1}{20}$
Profit percentage = $\frac{\frac{1}{20}-\frac{1}{30}}{\frac{1}{30}}$×100
= $\frac{1}{2}$×100
= 50%
Hence, the correct answer is 50%.
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