Question : By selling 24 items, a shopkeeper gains the selling price of 4 items. His gain percentage is:
Option 1: $16 \frac{1}{3} \%$
Option 2: $20 \%$
Option 3: $33 \frac{1}{3} \%$
Option 4: $16 \frac{2}{3} \%$
Correct Answer: $20 \%$
Solution :
The profit made by the shopkeeper is the selling price of 4 items.
If the shopkeeper sells 24 items, the profit is $\frac{4}{24} = \frac{1}{6}$ of the total selling price.
This means the cost price is $1 - \frac{1}{6} = \frac{5}{6}$ of the total selling price.
So, the gain percentage $=\frac{\frac{1}{6}}{\frac{5}{6}} \times 100 = 20\%$
Hence, the correct answer is $20\%$.
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