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Ramesh bought 200 spoons at a total price of 2400. He sold 150 spoons at Rs 14 per spoon. At what rate he would sell the remaining 50 spoons so as to gain a profit of 10%?1. Rs. 10.82. Rs. 12.63. Rs. 14.64. Rs. 8.4 |
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Answer» Correct Answer - Option 1 : Rs. 10.8 Given: Ramesh bought 200 spoons at a total price of Rs. 2400. He sold 150 spoons at Rs. 14 per spoon. Formula Used: Profit or Gain = Selling price – Cost Price Loss = Cost Price – Selling Price Profit percentage = (Profit /Cost Price) x 100 Loss percentage = (Loss/Cost price) x 100 Calculation: Ramesh bought 200 spoons at a total price of Rs. 2400 Selling price = Rs. (150 × 14) = Rs. 2100 Amount remains for no profit no loss = Rs. (2400 – 2100) = Rs. 300 To gain a overall 10% the selling price = Rs. (2400 × 11/10) = Rs. 2640 ⇒ 2640 – 2100 = 540 Rate = 540/50 = 10.8 ∴ The rate is 10.8% |
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