Question : If the cost price of 28 oranges is equal to the selling price of 24 oranges, then the profit percentage is:
Option 1: $16 \frac{2}{3}$%
Option 2: $16 \frac{1}{3}$%
Option 3: $18 \frac{2}{3}$%
Option 4: $18 \frac{1}{3}$%
Correct Answer: $16 \frac{2}{3}$%
Solution :
Given:
The cost price of 28 oranges equals the selling price of 24 oranges.
Let the selling price of 1 orange = Rs. 1
So, the cost price of 28 oranges = selling price of 24 oranges = 1 × 24 = 24
Selling price of 28 oranges = 1 × 28 = 28
So, profit percentage $= \frac{28-24}{24}×100=16 \frac{2}{3}$%
Hence, the correct answer is $16 \frac{2}{3}$%.
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