A shopkeeper acquires 24 pens at Rs. 900 each and 12 geometry boxes at Rs. 300 each. Later, he sells 2 pens to each of the 12 students, presenting them with a free geometry box. To secure a 12% profit on the overall transaction, determine the above-the-cost price at which he should sell the pens.
- ATQ, Cost Price of two pens and a Geometry box = 900 × 2 + 300 = 1800 + 300 = Rs.2100 Profit to be earned = 12% So, selling price = 1.12 × 2100 = Rs. 2352 Thus, the selling price of one pen = 2352/2 = Rs. 1176 Therefore, the required increase over cost price. = 1176 – 900=276 Rs.
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