Question : A vendor buys bananas at 9 for Rs. 8 and sells them at 8 for Rs. 9. What will be the profit or loss (in %)?
Option 1: 13.28% profit
Option 2: 26.56% loss
Option 3: 26.56% profit
Option 4: 13.28 % loss
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Correct Answer: 26.56% profit
Solution :
Cost price of one banana = $\frac{8}{9}$
Selling price of one banana = $\frac{9}{8}$
Profit = Selling price – Cost price = $\frac{9}{8}$–$\frac{8}{9}$ = $\frac{17}{72}$
Profit% = $\frac{\frac{17}{72}×100}{\frac{8}{9}}$ = $\frac{17×100×9}{72×8}$ = 26.56%
Hence, the correct answer is 26.56% profit.
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