A shopkeeper gives 20 commission on the retail price of one article and earns 5 profit If his commis...........

Quantitative Aptitude (CPO) Percentage

A shopkeeper gives 20% commission on the retail price of one article and earns 5% profit. If his commission is reduced by 10%, then what is his approximate profit percentage? (Nearest integral value)

This questions was previously asked in

SSC CPO 10th Nov 2022 Shift 3

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18%

10%

15%

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Explanation:

Correct Option is 1 - 18%
Commission is 20% on the retail price of one article
Profit is 5%
FORMULA USED:
C.P. = 100/(100+ P%) x S.P.
Profit = S.P. - C.P.
Profit% = (Profit/C.P.) x 100
Where, S.P. = Selling price, C.P. = Cost price
CALCULATION:
Let us assume retail price of one article be 100x
S.P. after 20% commission = 100xx 80/100 = 80x
Also, Profit% = 5%
Now, C.P. 100/(100 + 5) x 80x
⇒ 100/105 x 80X = 76.19x
Now, according to the given question when commission becomes 10% of retail price
Then, S.P. 100x x 90/100 = 90x
Profit = S.P. - C.P.
⇒90x - 76.19x= 13.81x
Profit% = (Profit/C.P.)x 100
⇒(13.81x/76.19x) x 100 = 18.12% 18% [nearest integer value]
Hence, approximate profit% is 18%