Question : Vijay sells bananas at the rate of Rs. 13 per dozen and earns a profit of 30%. The cost price of bananas increases by 10%. If the selling price remains the same, then what is his new profit percentage?
Option 1: 16.66%
Option 2: 18.18%
Option 3: 14.28%
Option 4: 12.5%
Correct Answer: 18.18%
Solution :
Selling price of 12 bananas = Rs. 13
Profit = 30%
Cost price of 12 bananas = $13\times\frac{100}{130}$ = Rs. 10
The cost price of the bananas increases by 10% = $\frac{110}{100}\times10$ = Rs. 11
Profit = Selling price – Cost price = 13 – 11 = Rs. 2
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}× 100$%
= $\frac{2}{11}× 100$%
= 18.18%
Hence, the correct answer is 18.18%.
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