Multiple choice

A man sold 250 chairs and had a gain equal to the selling price of 50 chairs. What is his profit percent?

  1. 20%

  2. 25%

  3. 50%

  4. 15%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Profit = Selling Price - Cost Price. Given Profit = SP of 50 chairs. SP of 250 chairs - CP of 250 chairs = SP of 50 chairs. Therefore, CP of 250 chairs = SP of 200 chairs. Profit % = (SP - CP)/CP * 100 = (250 - 200)/200 * 100 = 50/200 * 100 = 25%.

AI explanation

Let the selling price of one chair be 1, meaning the total selling price for 250 chairs is 250. The gain is equal to the selling price of 50 chairs, which is 50. Using the formula Cost Price = Selling Price - Gain, the cost price is 250 - 50 = 200. The profit percentage is (Gain / Cost Price) * 100, resulting in (50 / 200) * 100 = 25%.

Keep practicing — related questions