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 %