Fill in the blanks to make the statement true: If 20 lemons are bought for ₹ 10 and sold at 5 for three rupees, then ________ in the transaction is ________%.

Answer:

If 20 lemons are bought for ₹ 10 and sold at 5 for three rupees, then profit in the transaction is 20%.

Given

  • The cost price of 20 lemons = ₹ 10
  • The selling price of 5 lemons = ₹ 3

So, the selling price of 1 lemon = ₹ 3/5

Then, the selling price of 20 lemons = ₹ (3/5) × 20 = ₹ 12

SP is more than CP so,

Profit = SP – CP

Profit = 12 – 10

Profit = ₹ 2

We know that,

Profit percentage = (Profit/CP) × 100

Profit percentage = (2/10) × 100

Profit percentage = 20%

Percentage

In mathematics, a percentage is a number or ratio that can be expressed as a fraction of 100. To determine the percentage, we have to divide the value by the total value and then multiply the resultant to 100.

Percentage formula = (Value/Total value)×100

Example: 35/100= 35%

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