Select the correct answerA person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is?Options35 27311 3712
Question
Select the correct answerA person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is?Options35 27311 3712
Solution
To solve this problem, we first need to understand that the profit made by the person is equal to the cost of 30 kg of rice.
Let's assume the cost of 1 kg of rice is $1.
So, the cost of 80 kg of rice would be 80 * 80.
The profit made by the person is equal to the cost of 30 kg of rice, which is 30 * 30.
The profit percentage is calculated as (Profit / Cost Price) * 100.
So, the profit percentage in this case would be (80) * 100 = 37.5%.
However, since 37.5% is not an option, we need to round it to the nearest whole number, which is 37%.
So, the correct answer is 37.
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