What was his Percent Profit on the Original Cost Price? If
Rakesh purchased a wrist watch with a 20 % discount on the labelled price. He sold it with 15% Profit on the labelled price. what was his percent profit on the original cost price?
- 43.5%
- 35%
- 43.75%
- 45%
Answer: (3) 43.75 %
Explanation:-
Let labelled price be Rs. X
Rakesh purchased it for 20% discount,
Therefore, Cost price of watch = X x (100 – 20)/100
= 80 X /100
= 4 X/5
Rakesh sold it for 15% profit ,
Then, the selling price = X 115/100
Profit percentage in original cost price X is =(115 X/100 – 80 X/100)/(80 X/100)
= 35 X x 100/100 x 80 X
= 35/80
= 7/16 %
Therefore, the profit percentage = 7 x 100/16
= 43.75 %
Then, the profit percent is 43.75 %
Hence, the answer is (3) 43.75%.
