A shopkeeper bought 180 pens for ₹1200 and sold them at ₹9 each. What is the percentage profit? 0.1
Question
A shopkeeper bought 180 pens for ₹1200 and sold them at ₹9 each. What is the percentage profit? 0.1
Solution
Step 1: Calculate the cost price per pen
The shopkeeper bought 180 pens for ₹1200. So, the cost price per pen is ₹1200/180 = ₹6.67
Step 2: Calculate the selling price per pen
The shopkeeper sold each pen for ₹9.
Step 3: Calculate the profit per pen
The profit per pen is the selling price minus the cost price. So, the profit per pen is ₹9 - ₹6.67 = ₹2.33
Step 4: Calculate the profit percentage
The profit percentage is the profit per pen divided by the cost price per pen, multiplied by 100. So, the profit percentage is (₹2.33/₹6.67) * 100 = 34.93%
So, the shopkeeper made a profit of approximately 35%.
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