1.

Mohan went shopping and buy an umbrella for Rs. 5000 and sold an umbrella to Rohit with after marking an umbrella 20% above the cost price then Rohit sold at Rs. 7000 to Sarita, then what will be the profit percentage of Rohit?1. 16.66%2. 12.5%3. 11.11%4. 9.09%

Answer» Correct Answer - Option 1 : 16.66%

Given:

The cost price of an umbrella for Mohan = Rs. 5000

The selling price of Rohit = Rs. 7000

Formula used:

Markup price = (cost price) × (100 + % above)/100

Profit = Selling price – Cost price

Profit percentage = (Profit/cost price) × 100

Calculation:

The cost price of Rohit = the markup price of an umbrella for Mohan

⇒ The cost price of Rohit = the cost price of an umbrella for Mohan × (100 + % above)/100

⇒ The cost price of Rohit = 5000 × (100 + 20)/100

⇒ The cost price of Rohit = 50 × 120

⇒ The cost price of Rohit = Rs. 6000

Profit for Rohit = Selling price of an umbrella for Rohit – Cost price of an umbrella for Rohit

⇒ Profit for Rohit = 7000 – 6000

⇒ Profit for Rohit = 1000

The profit percentage of Rohit = (1000/6000) × 100

⇒ The profit percentage of Rohit = 100/6

⇒ The profit percentage of Rohit = 16.66%

∴ The profit percentage of Rohit is 16.66%. 


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