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Q.

A greedy businessman cheats both the seller and buyer by 20%. His real profit is:


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a

43%

b

45%

c

44%

d

40%

answer is D.

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Detailed Solution

Concept-
Business people purchased the item for 20% less than the cost price and sold it for 20% more than the cost price. To calculate the profit %, divide the profit by the cost price and multiply the result by 100.
We need to make a guess as to the product's price in order to answer this question. Let's assume that the product costs 100 Rupees.
The businessman defrauds the seller and buyer by 20%, thus we must first determine the 20% of the cost price. To do this, we must multiply 100 by 20% as follows:
100×20% = 20
Because 20% of the cost price equals 20. The goods were purchased for 20 Rs. less than the cost price and sold for 20 Rs. more than the cost price, according to this.
Therefore, we will take 20 off the cost price to determine how much was spent on the item: 100 – 20 = 80.
To find the quantity in which the product is sold, we will now add 20 to the cost price, thus 100+20=120.
The merchant paid Rs 80 for the item, which he then sold for Rs 120.
In order to calculate the profit, we must first remove 120 from 80, which gives us the result 120 -80 = 40.
In order to calculate the profit %, we must first divide the cost price by 40 and then multiply the resulting number by 100.
40%×100%=40%
Hence, the correct option is 4) 40%
 
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A greedy businessman cheats both the seller and buyer by 20%. His real profit is: