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Question

John bought 15 apples for Rs.10 and sold them at the rate of 12 apples for Rs.12. What is the percentage of profit made by him?

Options:
A .  50%
B .  60%
C .  65%
D .  100%
E .  None of these
Answer: Option A

 -   He got profit ⇒ profit % = 15/10 x 12/12 = 1.5 ⇒ 50%.

To calculate the percentage of profit made by John, we need to first determine the cost price (CP) of each apple and the selling price (SP) of each apple.

Given:

John bought 15 apples for Rs. 10, therefore, CP of each apple = Rs. 10/15 = Rs. 0.67

John sold 12 apples for Rs. 12, therefore, SP of each apple = Rs. 12/12 = Rs. 1

Now, we can calculate the profit made by John using the formula:

Profit = SP - CP

Profit = Rs. 1 - Rs. 0.67 = Rs. 0.33

Therefore, John made a profit of Rs. 0.33 on each apple.

To calculate the percentage of profit, we use the formula:

Profit percentage = (Profit/CP) * 100

Profit percentage = (0.33/0.67) * 100 = 49.25 ≈ 50%

Therefore, the correct answer is option A, which is 50%.

Explanation of terms and formulas used:

  1. Cost Price (CP): The price at which an article is purchased is known as its cost price.
  2. Selling Price (SP): The price at which an article is sold is known as its selling price.
  3. Profit: The difference between the selling price and the cost price is known as the profit.
  4. Profit percentage: The percentage of profit is the profit expressed as a percentage of the cost price.
  5. Formula for profit: Profit = SP - CP
  6. Formula for profit percentage: Profit percentage = (Profit/CP) * 100
  7. The percentage of profit can be calculated only when the cost price and selling price are known.

If you think the solution is wrong then please provide your own solution below in the comments section .


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