Select the correct answerA fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. His profit percent is?Options10%20%25%15%
Question
Select the correct answer
A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. His profit percent is?
Options
- 10%
- 20%
- 25%
- 15%
Solution
To solve this problem, we first need to determine the cost price and the selling price for the same quantity of lemons.
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The cost price: The fruit seller buys lemons at 2 for a rupee. So, the cost price for 1 lemon is 1/2 = 0.5 rupees.
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The selling price: The fruit seller sells lemons at 5 for three rupees. So, the selling price for 1 lemon is 3/5 = 0.6 rupees.
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Now, we can calculate the profit per lemon by subtracting the cost price from the selling price. Profit = Selling price - Cost price = 0.6 - 0.5 = 0.1 rupees.
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The profit percentage is calculated as (Profit/Cost price) * 100. So, the profit percentage = (0.1/0.5) * 100 = 20%.
So, the correct answer is 20%.
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