A man buys milk at Rs. 2.40 per litre. He adds one-third water to it and sells the mixture at Rs. 2.88 per litre. Find his profit percentage. (Assume water is free).
a) 21%
b) 30%
c) 40%
d) 50%
e) 60%
Let say he purchases 3 litres of milk whose cost is Rs. 7.20
He adds 1 litre of water and the mixture of 4 litres is sold at Rs 2.88 × 4 = Rs11.52
Profit percentage = (11.52 – 7.20) × 100.0/7.20 = 4.32 × 100.0/7.2 = 60%
Answer: e)