Ramesh purchased a mobile phone for Rs. 15,000. He sold it to Suresh at a gain of 20% of the selling

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22 Mar 2022 Profit & Loss

Ramesh purchased a mobile phone for Rs. 15,000. He sold it to Suresh at a gain of 20% of the selling price. Suresh further sold it to Mahesh for Rs. 20,000. What was the profit percentage of Suresh ?

OPtion

1) 16.66
2) 11.11
3) 66.66
4) 8.88
5) 6.66
6) 5.55
7) 33.33
8) 9.99
9) 22.22
10) None of these

Solution

Here, Ramesh sold mobile phone to Suresh at a gain of 20% on SP
SP = CP + Profit
SP = CP + 0.2*SP
0.8*SP = 15000
SP = 18750 = CP of Suresh
.'. Profit of Suresh = 20000 - 18750 = 1250 Rs.
% Profit = (1250/18750)*100 = 6.66 %

Correct Option: 5 Best Solution (2)