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1. A shopkeeper calculate percentage profit on the buying price and another on the selling price. What will be their difference in profits if both claim a profit of 20% on goods sold for Rs. 3000?

A. Rs. 200

B. Rs. 100

C. Rs. 150

D. Rs. 400

Solution:

For 20% profit on selling price means

\frac{1}{5}

of 3000 i.e. Rs. 600
Now, let the CP = Rs. 100, Then,
SP with 20% profit = Rs. 120
For 20% profit on selling price means cost is 100 + profit is 20 = selling price is 120.
Means selling price is 120% of cost price.
Now selling price is 120% ie 3000 then find 100% amount which will be cost.
Cost =

\frac{3000}{120} %

\frac{3000}{\frac{6}{5}}

Because, 120% =

\frac{6}{5}

= 3000 x

\frac{5}{6}

= 2500
Cost is 2500
Thus profit is 20% i.e.

\frac{1}{5}

x 2500 = 500
Thus,
Difference is 600 - 500 = Rs.100

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