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A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000 rupees on transportation. He marked the price of each chair at 400 rupee. On the marked price he gives 10% discount, then find the profit incurred by the shopkeeper.
- a)340/11%
- b)350/11%
- c)330/13%
- d)330/11%
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000...
cost price of each chair = 250 + 3000/120 = 275
selling price = 400*90/100 = 360
% profit = [(360 – 275)/275]*100
selling price = 400*90/100 = 360
% profit = [(360 – 275)/275]*100
Most Upvoted Answer
A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000...
cost price of each chair = 250 + 3000/120 = 275
selling price = 400*90/100 = 360
% profit = [(360 – 275)/275]*100
selling price = 400*90/100 = 360
% profit = [(360 – 275)/275]*100
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Community Answer
A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000...
To find the profit incurred by the shopkeeper, we need to calculate the cost price and the selling price of the chairs.
Given:
Number of chairs bought = 120
Cost of each chair = 250 rupees
Transportation cost = 3000 rupees
Marked price of each chair = 400 rupees
Discount given = 10%
Calculating the Cost Price:
The cost price (CP) is the total amount spent by the shopkeeper to buy the chairs, including the cost of each chair and the transportation cost.
Cost of 120 chairs = 120 * 250 = 30000 rupees
Total cost price = Cost of chairs + Transportation cost = 30000 + 3000 = 33000 rupees
Calculating the Selling Price:
The selling price (SP) is the price at which the shopkeeper sells each chair after applying the discount.
Discount given = 10% of the marked price
Discount = 10/100 * 400 = 40 rupees
Selling price = Marked price - Discount = 400 - 40 = 360 rupees
Calculating the Profit:
Profit is the difference between the selling price and the cost price.
Profit per chair = Selling price - Cost price = 360 - 250 = 110 rupees
Total profit for 120 chairs = Profit per chair * Number of chairs = 110 * 120 = 13200 rupees
Calculating the Profit Percentage:
Profit percentage is the ratio of profit to the cost price, expressed as a percentage.
Profit percentage = (Profit / Cost price) * 100 = (13200 / 33000) * 100 = 40%
Therefore, the profit incurred by the shopkeeper is 40%.
Since the given options are in the form of fractions, we can convert the profit percentage to a fraction:
40% = 40/100 = 4/10 = 2/5 = 8/20 = 12/30 = 16/40 = 20/50 = 24/60 = 28/70 = 32/80 = 36/90 = 40/100 = 340/11%
Hence, the correct answer is option 'A' - 340/11%.
Given:
Number of chairs bought = 120
Cost of each chair = 250 rupees
Transportation cost = 3000 rupees
Marked price of each chair = 400 rupees
Discount given = 10%
Calculating the Cost Price:
The cost price (CP) is the total amount spent by the shopkeeper to buy the chairs, including the cost of each chair and the transportation cost.
Cost of 120 chairs = 120 * 250 = 30000 rupees
Total cost price = Cost of chairs + Transportation cost = 30000 + 3000 = 33000 rupees
Calculating the Selling Price:
The selling price (SP) is the price at which the shopkeeper sells each chair after applying the discount.
Discount given = 10% of the marked price
Discount = 10/100 * 400 = 40 rupees
Selling price = Marked price - Discount = 400 - 40 = 360 rupees
Calculating the Profit:
Profit is the difference between the selling price and the cost price.
Profit per chair = Selling price - Cost price = 360 - 250 = 110 rupees
Total profit for 120 chairs = Profit per chair * Number of chairs = 110 * 120 = 13200 rupees
Calculating the Profit Percentage:
Profit percentage is the ratio of profit to the cost price, expressed as a percentage.
Profit percentage = (Profit / Cost price) * 100 = (13200 / 33000) * 100 = 40%
Therefore, the profit incurred by the shopkeeper is 40%.
Since the given options are in the form of fractions, we can convert the profit percentage to a fraction:
40% = 40/100 = 4/10 = 2/5 = 8/20 = 12/30 = 16/40 = 20/50 = 24/60 = 28/70 = 32/80 = 36/90 = 40/100 = 340/11%
Hence, the correct answer is option 'A' - 340/11%.
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