Raman bought three products, A, B and C, whose cost prices are in the ratio 8 : 9 : 10 and sold them at prices which are in the ratio 4 : 5 : 6. If his profit percentage on product A was 20%, find his profit percentage on C.20%40%44%50%
Question
Raman bought three products, A, B and C, whose cost prices are in the ratio 8 : 9 : 10 and sold them at prices which are in the ratio 4 : 5 : 6. If his profit percentage on product A was 20%, find his profit percentage on C.20%40%44%50%
Solution
To solve this problem, we need to understand that the profit percentage is calculated based on the cost price and selling price of a product.
Step 1: Let's assume the cost prices of products A, B, and C are 8x, 9x, and 10x respectively.
Step 2: Given that the profit percentage on product A is 20%, we can calculate the selling price of A. The formula for profit percentage is (Selling Price - Cost Price)/Cost Price * 100%. So, 20% = (Selling Price of A - 8x)/8x * 100%. Solving this equation, we get the Selling Price of A = 9.6x.
Step 3: It's given that the selling prices of A, B, and C are in the ratio 4:5:6. So, we can say 9.6x/4 = Selling Price of B/5 = Selling Price of C/6.
Step 4: Solving the above equation for Selling Price of C, we get Selling Price of C = 14.4x.
Step 5: Now, we can calculate the profit percentage on C. Profit percentage on C = (Selling Price of C - Cost Price of C)/Cost Price of C * 100% = (14.4x - 10x)/10x * 100% = 44%.
So, the profit percentage on product C is 44%.
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