Question : If bananas are bought at the rate of 4 for a rupee, how many must be sold for a rupee to gain $33\frac{1}{3}\%$?
Option 1: 2.5
Option 2: 2
Option 3: 3
Option 4: 4
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Correct Answer: 3
Solution :
Given: Cost price (CP) of 4 bananas = 1 rupee = 100 paise
Gain percentage on 4 bananas = $33\frac{1}{3}\% = \frac{100}{3}\%$
We know the selling price (SP) = CP + Profit
SP of 4 bananas = (100 + $\frac{100}{3}$) = $\frac{400}{3}$ paise
SP of 1 banana = $\frac{\frac{400}{3}}{4}$ = $\frac{100}{3}$
The number of bananas to be sold for 100 paise to get a profit of $\frac{100}{3}\%=\frac{100}{\frac{100}{3}}=3$
Hence, the correct answer is 3.
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