On selling 2800 school bags, Anita earns a profit equal to the sale price of 420 school bags. What is the gain percentage that Anita earned?
Note: round off to two decimal places
- A15.85%
- B20.50%
- C18.57%
- D17.65%
Solution & Step-by-step Explanation
Let the selling price (SP) of 1 school bag be Rs. 1.
Then, SP of 2800 school bags = Rs. 2800.
Profit = SP of 420 school bags = Rs. 420.
We know that:
Cost Price (CP)=Selling Price (SP)−Profit
CP=2800−420=2380
The formula for gain percentage is:
Gain %=(
CP
Profit
)×100
Gain %=(
2380
420
)×100
Gain %=(
119
21
)×100=(
17
3
)×100
Gain %=
17
300
≈17.647%≈17.65%
Then, SP of 2800 school bags = Rs. 2800.
Profit = SP of 420 school bags = Rs. 420.
We know that:
Cost Price (CP)=Selling Price (SP)−Profit
CP=2800−420=2380
The formula for gain percentage is:
Gain %=(
CP
Profit
)×100
Gain %=(
2380
420
)×100
Gain %=(
119
21
)×100=(
17
3
)×100
Gain %=
17
300
≈17.647%≈17.65%