Question
Amit makes 900 articles at a cost of 40 paise/article.
He fixed the selling price such that if only 500 articles are sold, he would have made profit of 50% on the outlay. However, 250 articles get spoilt and he was able to sell 650 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 900 articles = 900 ×40/100 = Rs 360 SP of 500 articles = 360 + 360 ×50/100 = Rs 540 SP of 1 article = 540/500 = 27/25 SP of 650 articles = 27/25× 650 = Rs 702 Profit = 702 – 360 = Rs 342 Profit % = 342/360× 100 = 95%
Find the CP, when SP = Rs. 696, Loss = 13%.
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