More Questions from Profit and Loss

A shopkeeper bought an article for ₹ 2090.42. Approximately, what will be the percentage profit if he sold that article for ₹ 2602.58?

Aptitude Profit and Loss Difficulty: Medium
Choose an option
  • A
    15%
  • B
    20%
  • C
    25%
  • D
    30%

Answer

Correct Answer: 25%

Explanation

### Concept & Approximate Profit Percentage When dealing with complex decimals in multiple-choice questions that ask for an "approximate" value, rounding the numbers to their nearest manageable integers simplifies the math without sacrificing the accuracy needed to find the correct option. $$ \text{Profit \%} = \left( \frac{\text{SP} - \text{CP}}{\text{CP}} \right) \times 100 $$ ### Step-by-Step Solution Given: * Cost Price (CP) = ₹ 2090.42 * Selling Price (SP) = ₹ 2602.58 Calculation: 1. Round the given values to nearby easy-to-work-with integers. $$ \text{CP} \approx 2090 $$ $$ \text{SP} \approx 2600 $$ 2. Calculate the approximate profit. $$ \text{Profit} \approx 2600 - 2090 = 510 $$ 3. Calculate the approximate profit percentage. $$ \text{Profit \%} = \left(\frac{510}{2090}\right) \times 100 $$ $$ \text{Profit \%} = \left(\frac{51}{209}\right) \times 100 $$ 4. Notice that 51 is roughly one-quarter of 204 ($51 \times 4 = 204$). Since the denominator is 209, the fraction is slightly less than $1/4$ (or 25%). $$ \text{Profit \%} \approx 24.5\% $$ Rounding up to the nearest option gives 25%. ### Exam Strategy & Shortcut Instead of subtraction, use multipliers. $2090 \times 1.25 = 2612.5$. The actual SP is 2602.58, which is extremely close to 2612.5. Therefore, a 25% profit is the most accurate approximation among the given choices. ### Common Pitfall Attempting to calculate the exact decimals (2602.58 - 2090.42 = 512.16) and dividing by 2090.42 manually consumes too much time. Always round when the word "Approximately" is used and options are comfortably spaced. ### Final Answer Therefore, the correct answer is **25%**.
Discussion & Comments
No comments yet. Be the first to comment!
Join Discussion