Question
A seller purchased certain number of watches at prices ranging from Rs. 1100 to Rs. 1400 and sold them at price ranging from Rs. 1250 to Rs. 1550. Find the maximum profit that can be earned by selling 14 such watches.
Solution
Maximum profit will be earned when the cost price is least and selling price is maximum. Therefore, least cost price of 14 watches = 14 × 1100 = Rs. 15400 Maximum selling price of 14 watches = 14 × 1550 = Rs. 21700 Therefore, maximum profit that can be earned = 21700 – 15400 = Rs. 6300
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