Question

If $20$ lemons are bought for Rs. $10$ and sold at $5$ for three rupees, then find a profit in percentage.

Answer 1

Hint: We are given that $20$ lemons are bought for Rs. $10$. Also, for the selling price of $5$ lemons the cost is three rupees. After that find the cost for selling the price for $20$ lemons. Find profit and find the profit percentage.

Complete step-by-step answer:
We are given that $20$ lemons are bought for Rs. $10$.
Cost price of $20$ lemons$=$ Rs. $10$
Now, selling price of $5$ lemons$=$Rs. $3$
So, selling price of $1$ lemon will be$=$Rs. $\dfrac{3}{5}$
Now for $20$ lemons,
selling price of $20$ lemon will be$=$Rs. $\left( \dfrac{3}{5}\times 20 \right)$
Now simplifying above we get,
selling price of $20$ lemon will be$=$Rs. $12$
Here, we can see that the selling price is greater than the cost price.
So, Profit$=$ selling price$-$ cost price
Profit$=$$12-10=$Rs. $2$
Now, percentage of profit will be$=$$\left( \dfrac{\text{Profit}}{\text{cost price}} \right)\times 100$
Percentage of profit will be$=$$\left( \dfrac{2}{10} \right)\times 100$
Simplifying we get,
Percentage of profit will be$=$$20%$
Therefore, we get the profit percentage as $20%$.

Additional information:
Profit and loss percentage are used to refer to the amount of profit or loss that has been incurred in terms of percentage. It should be noted that the percentage is one of the methods for comparing two quantities. Daily we come across a variety of situations where we calculate or compare things in “per cent”. Most common ones are the situations related to buying and selling of items. Before we go through profit and loss per cent, we need to make ourselves familiar with a few terminologies that are generally used in sales/purchasing of goods.


Note: Selling price is the price at which we sell an item; in short, it is written as SP. During the purchase and sale of an item, depending upon the CP or SP, it can be either profit or loss for the seller.