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A shopkeeper expects a gain of 22.5 % on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

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answer is C.

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Detailed Solution

Concept: Using the formula to calculate the gain % of sales

(22.5% & 392 are given data)
On simplifying,

Taking all terms containing CP to the L.H.S. of the equation, we obtain:

=Rs.320
So, profit is the (selling price - the cost price). Hence, we have:
Profit = SP – CP => 392 – 390
Profit = Rs. 72
Hence, the correct answer is option (3).

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