Profit & Loss Mcqs

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

a. 4 1/6 %
b. 6 1/6 %
c. 8 1/3 %
d. 20 %


ANSWER: See Answer
 
C.P. of 1 kg = 420/7 = Rs. 6

S.P. of 1 kg = Rs. 6.50
Gain % = 0.50/6 * 100 = 25/3 = 8 1/3 %
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