Question

A dealer bought a scooter for RS 20,500 and sold it for RS 25,000 another dealer bought a scooter for RS 22,000 and sold it for RS 28,800 who made a better buy?

Answer 1

Dealer 2

Explanation:

Dealer 1

Purchase price = 20500

Sales price = 25000

Profit :

((25000 - 20500) / 20500) * 100%

= 21.95%

Dealer 2 :

Purchase price = 22000

Sales price = 28800

((28800 - 22000) / 22000) * 100%

= 30.90%

The better buy is for dealer 2 has he made a higher percentage profit