ABC26GN2600 · Profit and Loss

Subject: General Aptitude · Chapter: Profit and Loss · Exam: 2007 · Marks: · Difficulty:

A shopkeeper purchased 70 kg of potatoes for ₹ 420 and sold the whole lot at the rate of ₹ 6.50 per kg. What will be his gain percent?

(a)$4 \frac{1}{6} \%$

(b)$6 \frac{1}{4} \%$

(c)$8 \frac{1}{3} \%$

(d)20\%

Answer

Answer (as printed): C

Explanation

C.P. of $1 \mathrm{kg}=₹\left(\frac{420}{70}\right)=₹ 6$. S.P. of $1 \mathrm{kg}=₹ 6.50$. $$\text { ∴ Gain } \%=\left(\frac{0.50}{6} \times 100\right) \%=\frac{25}{3} \%=8 \frac{1}{3} \% \text {. }$$

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