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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, and then find the profit incurred by the shopkeeper.
- a)350/11%
- b)340/11%
- c)330/13%
- d)330/11%
- e)None of these
Correct answer is option 'B'. 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...
Given:
- Number of chairs bought = 120
- Cost price of each chair = 250 rupees
- Transportation cost = 3000 rupees
- Marked price of each chair = 400 rupees
- Discount given = 10%
To find:
Profit incurred by the shopkeeper
Formula:
Profit = (Selling Price - Cost Price) / Cost Price * 100
Let's solve the problem step by step:
1. Cost price of 120 chairs:
Cost price = Cost price per chair * Number of chairs
Cost price = 250 * 120
Cost price = 30000 rupees
2. Total cost incurred by the shopkeeper:
Total cost = Cost price + Transportation cost
Total cost = 30000 + 3000
Total cost = 33000 rupees
3. Selling price of each chair after discount:
Discount = Marked price * (Discount percentage / 100)
Discount = 400 * (10 / 100)
Discount = 40 rupees
Selling price after discount = Marked price - Discount
Selling price after discount = 400 - 40
Selling price after discount = 360 rupees
4. Selling price of 120 chairs:
Selling price = Selling price after discount * Number of chairs
Selling price = 360 * 120
Selling price = 43200 rupees
5. Profit incurred by the shopkeeper:
Profit = (Selling price - Total cost) / Total cost * 100
Profit = (43200 - 33000) / 33000 * 100
Profit = 10200 / 33000 * 100
Profit = 34/11%
Therefore, the profit incurred by the shopkeeper is 34/11%. Option B is the correct answer.
- Number of chairs bought = 120
- Cost price of each chair = 250 rupees
- Transportation cost = 3000 rupees
- Marked price of each chair = 400 rupees
- Discount given = 10%
To find:
Profit incurred by the shopkeeper
Formula:
Profit = (Selling Price - Cost Price) / Cost Price * 100
Let's solve the problem step by step:
1. Cost price of 120 chairs:
Cost price = Cost price per chair * Number of chairs
Cost price = 250 * 120
Cost price = 30000 rupees
2. Total cost incurred by the shopkeeper:
Total cost = Cost price + Transportation cost
Total cost = 30000 + 3000
Total cost = 33000 rupees
3. Selling price of each chair after discount:
Discount = Marked price * (Discount percentage / 100)
Discount = 400 * (10 / 100)
Discount = 40 rupees
Selling price after discount = Marked price - Discount
Selling price after discount = 400 - 40
Selling price after discount = 360 rupees
4. Selling price of 120 chairs:
Selling price = Selling price after discount * Number of chairs
Selling price = 360 * 120
Selling price = 43200 rupees
5. Profit incurred by the shopkeeper:
Profit = (Selling price - Total cost) / Total cost * 100
Profit = (43200 - 33000) / 33000 * 100
Profit = 10200 / 33000 * 100
Profit = 34/11%
Therefore, the profit incurred by the shopkeeper is 34/11%. Option B is the correct answer.
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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, and then find the profit incurred by the shopkeeper.a)350/11%b)340/11%c)330/13%d)330/11%e)None of theseCorrect answer is option 'B'. Can you explain this answer?
Question Description
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