Choose the correct option. A man bought 400 meters of cloth for Rs. 40,000 & sold it at a rate of Rs. 200 per one and a half meter. What was his percentage profit or loss? Options 36% loss 25% profit 33% profit 27% loss
Question
Choose the correct option. A man bought 400 meters of cloth for Rs. 40,000 & sold it at a rate of Rs. 200 per one and a half meter. What was his percentage profit or loss? Options
36% loss
25% profit
33% profit
27% loss
Solution
First, let's calculate the cost price per meter of the cloth. The man bought 400 meters for Rs. 40,000. So, the cost price per meter is Rs. 40,000 / 400 = Rs. 100.
Next, let's calculate the selling price per meter. The man sold the cloth at a rate of Rs. 200 per one and a half meter. So, the selling price per meter is Rs. 200 / 1.5 = Rs. 133.33 (approximately).
Now, let's calculate the profit or loss. The selling price per meter is Rs. 133.33 and the cost price per meter is Rs. 100. So, the man made a profit of Rs. 133.33 - Rs. 100 = Rs. 33.33 per meter.
Finally, let's calculate the percentage profit. The percentage profit is (Profit / Cost price) * 100 = (Rs. 33.33 / Rs. 100) * 100 = 33.33%.
So, the correct option is "33% profit".
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