Twelve percent of bananas bought by a fruit vendor got lost during transportation. On selling the remaining bananas, the vendor’s overall profit turned out to be 4%. If the vendor had not lost any bananas and had sold them at the price of the remaining bananas, what would have been his profit percentage ?
This questions was previously asked in
2023 CDS -1 MATH
None of these
Incorrect AnswerExplanation:
- The vendor loses 12% of the bananas during transportation.
- The remaining 88% are sold with a 4% profit.
- If no bananas were lost, the profit would be higher because more bananas would be sold at the same price.
- To find the profit percentage without any losses, calculate the equivalent profit on 100% bananas.
- Assuming total cost as 100 units, selling 88% with 4% profit results in sales of 104. Therefore, 1 unit equals 88% of cost price, making selling price 104/88 of cost price.
- Use this ratio to calculate the profit on all 100% of bananas.
- Option 1: 8 1/9% is lower than the realistic profit percentage.
- Option 2: 9 1/11% is also lower.
- Option 3: 18 2/11% is the actual profit percentage.
- None of these options, not applicable here.
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By: Parvesh Mehta