Question
Mr. Joseph makes 1800 articles at a cost of 40
paise/article. He fixed the selling price such that if only 1000 articles are sold, he would have made profit of 50% on the outlay. However, 500 articles get spoilt and he was able to sell 1300 articles at this price. Find his actual profit percent as the percentage of total outlay assuming that the unsold articles are useless?Solution
CP of 1800 articles = 1800 ×40/100 = Rs 720 SP of 1000 articles = 720 + 720 ×50/100 = Rs 1080 SP of 1 article = 1080/1000 = 27/25 SP of 1300 articles = 27/25× 1300 = Rs 1404 Profit = 1404 – 720 = Rs 684 Profit % = 684/720× 100 = 95%
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