Selling price of 12 Eggs is Equal to Cost Price of 16 Eggs. Find the Profit Percentage.
A percentage is a number or ratio that represents a fraction of 100.
Answer: If the Selling Price of 12 eggs is equal to cost price of 16 eggs, the profit percentage is equal to 33%.
Let's find the profit percentage
Let selling price of 12 eggs be Rs. x
According to the question,
Cost price of 16 eggs = Rs. x (Since, selling price of 12 eggs is equal to cost price of 16 eggs)
The selling price of 1 egg = x/12
Cost price of 1 egg = x/16
By comparing the selling price and cost price per egg we see that,
x/12 > x/16
Thus, selling price > cost price
Hence, it is a profit
Profit = Selling price – Cost price
x/12 – x/16 = x/48
Thus, Cost price = x/16, Selling price = x/12, Profit = x/48
Profit percentage is given by:
Profit % = (Profit/Cost price) ×100%
= (x/48) / (x/16) × 100%
= (x/48) × (16/x) × 100%
On solving we get,
Profit % = 33.3%