Question
The profit percentage of K and L is same on selling the articles at Rs. 48800 each but K calculates his profit on the selling price while L calculates it correctly on the cost price which is equal to 22%. What is the difference in their profits?
Solution
Profit(Calculated on SP) = 22% of 48800 = 10736 Profit(calculated on CP) x + 11x/50 = 48800 61x/50 = 48800 x = 40000 Profit = 40000 X 11/50 = Rs. 8800 Difference = 10736 – 8800 = Rs. 1936
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