Question : A person buys some bananas at INR $Y$ per dozen and sells them at INR $\frac{Y}{4}$ per banana. What is his gain percentage?
Option 1: 200%
Option 2: 50%
Option 3: 80%
Option 4: 100%
Correct Answer: 200%
Solution :
The cost price of 1 dozen bananas = INR $Y$
Selling price of 1 banana = INR $\frac{Y}{4}$
Selling price of 1 dozen banana = INR $\frac{Y}{4}\times12 = 3Y$
Gain = selling price – cost price
= $3Y$ – $Y$
= $2Y$
Gain percentage = $\frac{\text{Gain}}{\text{cost price}}\times 100$%
= $\frac{2Y}{Y}\times 100$%
= 200%
Hence, the correct answer is 200%.
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