Question : A vendor expects a gain of 15% on his cost price. If in a month, his sales were of Rs. 138000, then what was his profit?
Option 1: Rs. 18000
Option 2: Rs. 15500
Option 3: Rs. 12000
Option 4: Rs. 13800
Correct Answer: Rs. 18000
Solution :
The vendor expects a gain of 15% on his cost price.
This means that the selling price is 115% of the cost price.
The selling price is Rs. 138000, then the cost price = $\frac{138000×100}{115}$ = Rs. 120000
$\therefore$ Profit = Rs. 138000 – Rs. 120000 = Rs. 18000
Hence, the correct answer is Rs. 18000.
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