Multiple choice

Rohit purchased an article for Rs. 6,500 and sold it at 30% above the cost price. If the selling price includes Rs. 225 as tax, find his net profit and profit percentage

  1. $\displaystyle Rs. 1,725\, and\, 26\frac{7}{13}\%\, =\, 26.54\%$
  2. $\displaystyle Rs. 1,725\, and\, 26\frac{9}{13}\%\, =\, 26.54\%$
  3. $\displaystyle Rs. 1,735\, and\, 26\frac{7}{13}\%\, =\, 26.54\%$
  4. $\displaystyle Rs. 1,225\, and\, 26\frac{7}{13}\%\, =\, 26.54\%$
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A Correct answer
Explanation

Cost = 6500. Selling price = 1.3 * 6500 = 8450. Profit = 8450 - 6500 = 1950. Net profit after tax = 1950 - 225 = 1725. Profit % = (1725 / 6500) * 100 = 26.538% = 26 7/13%.

AI explanation

First, calculate the total amount Rohit received by applying the percentage increase formula to the cost price: 6500 + (30% of 6500) = Rs. 8450. To find the actual selling price before tax, subtract the tax from this amount: 8450 - 225 = Rs. 8225. The net profit is 8225 - 6500 = Rs. 1725. Applying the profit percentage formula, (1725 / 6500) * 100 yields 26 7/13%, which equals 26.54%.

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