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A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the whole lot at the rate of Rs. 6.50 per kg. What will be his gain percent?

/ Mathematics Mcqs, Profit and Loss Mcqs / By
A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the whole lot at the rate of Rs. 6.50 per kg. What will be his gain percent?

A. 4 1/6 %
B. 6 1/6 %
C. 8 1/3 %
D. 20 %
Explanation:
C.P. of 1 kg = 420/7 = Rs. 6
S.P. of 1 kg = Rs. 6.50
Gain % = 0.50/6 * 100 = 25/3 = 8 1/3 %