Kriti sells an article for Rs 800. If she made a profit of20% on the selling price of the article, find her actual profit %.22%20%15%25%
Question
Kriti sells an article for Rs 800.
If she made a profit of 20% on the selling price of the article, find her actual profit %.
Options:
- 22%
- 20%
- 15%
- 25%
Solution
The problem states that Kriti sold an article for Rs 800 and made a profit of 20% on the selling price. We need to find her actual profit percentage.
Step 1: First, we need to find the cost price of the article. Since the profit was 20% of the selling price, we can say that 120% of the cost price is equal to the selling price.
So, 120/100 * Cost price = Rs 800 Solving this, we get the cost price = Rs 800 * (100/120) = Rs 666.67
Step 2: Now, we need to find the actual profit. The profit is the difference between the selling price and the cost price.
So, Profit = Selling price - Cost price = Rs 800 - Rs 666.67 = Rs 133.33
Step 3: Finally, we find the actual profit percentage. The profit percentage is the profit divided by the cost price, multiplied by 100.
So, Profit % = (Profit / Cost price) * 100 = (133.33 / 666.67) * 100 = 20%
So, Kriti's actual profit percentage is 20%.
Similar Questions
Select the correct answerBy selling two articles for ₹800, a person gains the cost price of three articles. The profit percent is?Options120125150140
On selling an article for Rs. 200, a man loses Rs. 20. Find his profit per cent.A10%B9*1/11%C11*1/9%D20%
An article costs Rs.600.What should be the marked price of an article so that after 10% discount,the trader makes 20% profit?Rs.800Rs.950Rs.1100Rs.1040
A shopkeeper sold an article for Rs. 2500. If the cost price of the article is 2000, find the profit percent.23%25%27%29%
A man sold two articles for Rs.20000 each.On selling first, he gains 20% and on the other, he loses 20%.What is the profit/loss in the ?transaction?2468
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.