A shopkeeper bought 500 notebooks. He sold 300 of them for the price he paid for all 500 notebooks. He sold 140 notebooks at
20% higher rate than that at which he sold 300 notebooks and the remaining at the cost price. What is the profit percentage in
the whole transaction?
This questions was previously asked in
SSC MTS 14th October 2021 Shift-2
Explanation:
Let’s break down the problem and check each statement:
- Let cost price of 500 notebooks = Rs. 500 (assume cost per notebook = Rs. 1).
- Sold 300 notebooks for Rs. 500 ? Selling price per notebook = Rs. 500/300 = Rs. 5/3.
- Sold next 140 notebooks at 20% higher rate: Rs. (5/3) × 1.2 = Rs. 2 per notebook.
- Sold remaining 60 notebooks (500 - 300 - 140 = 60) at cost price, Rs. 1 each.
Now, let's calculate the totals:
- Selling price for 300 = 300 × Rs. 5/3 = Rs. 500
- Selling price for 140 = 140 × Rs. 2 = Rs. 280
- Selling price for 60 = 60 × Rs. 1 = Rs. 60
- Total selling price = 500 + 280 + 60 = Rs. 840
Total cost price = Rs. 500
Profit = Rs. 840 – Rs. 500 = Rs. 340
Profit percentage = (340/500) × 100% = 68%
Option 3: 68% is correct.
Option details:
- Option 1: 60% (not correct as calculated)
- Option 2: 56% (not correct, calculation mismatch)
- Option 3: 68% (? correct, matches calculation)
- Option 4: 64% (not correct, calculation mismatch)
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By: santosh