Question : The price of land passing through three hands rises on the whole by 65%. The first and second sellers earned 20% and 25% profit, respectively. Find the profit percentage earned by the third seller.
Option 1: 10%
Option 2: 20%
Option 3: 25%
Option 4: 15%
Correct Answer: 10%
Solution :
Let the initial price be 100.
Selling price after 1st profit of 20% = 120
Selling price after 2nd profit of 25% = $120\times\frac{125}{100}$
= 150
Overall profit = 65%
Selling price after 3rd profit = 165
Remaining profit after two profits = 165 – 150 = 15
Profit percentage = $\frac{\text{Remaining profit}}{\text{Selling price after 2nd profit}}\times100$
= $\frac{15}{150}\times100$
= 10
Hence, the correct answer is 10%.
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