A dealer bought an item at a discount of 10% on its original price. He sold it for an amount 35% more than the original price.
What percentage of profit did he get?
This questions was previously asked in
SSC MTS 19th July 2022 Shift-3
Explanation:
Let's break down the scenario in simple terms:
- The dealer bought an item at a 10% discount. This means he paid 90% of the original price.
- He later sold the item for 35% more than the original price.
Let's calculate the percentage of profit:
1. Original Price = $100 (assumption for simplicity):
- Cost Price for Dealer = 90% of $100 = $90.
- Selling Price = 135% of $100 = $135.
2. Profit = Selling Price - Cost Price = $135 - $90 = $45.
2. Percentage of Profit = (Profit / Cost Price) * 100 = ($45 / $90) * 100 = 50%.
- Option 1: 42.5% - Incorrect.
- Option 2: 50% - Correct Answer.
- Option 3: 62.5% - Incorrect.
- Option 4: 57.5% - Incorrect.
. The correct percentage of profit is 50%.
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By: santosh