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A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?
- a)14%
- b)15%
- c)16%
- d)2%
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A shopkeeper purchased 150 identical pieces of calculators at the rat...
The cost price of the calculators:
The shopkeeper purchased 150 calculators at a rate of Rs. 250 each. Therefore, the total cost price of the calculators is calculated as follows:
Cost Price = Number of calculators * Cost per calculator = 150 * Rs. 250 = Rs. 37,500
Additional Expenses:
The shopkeeper also spent Rs. 2500 on transport and packing.
Total Cost Price:
To calculate the total cost price, we need to add the cost of the calculators and the additional expenses.
Total Cost Price = Cost Price + Additional Expenses = Rs. 37,500 + Rs. 2500 = Rs. 40,000
Labelled Price and Discount:
The shopkeeper fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price.
Discount:
The discount is calculated as a percentage of the labelled price. In this case, the discount is 5% of Rs. 320.
Discount = (5/100) * Rs. 320 = Rs. 16
Selling Price:
The selling price is the labelled price minus the discount given.
Selling Price = Labelled Price - Discount = Rs. 320 - Rs. 16 = Rs. 304
Profit:
Profit is calculated as the difference between the selling price and the cost price.
Profit = Selling Price - Total Cost Price = Rs. 304 - Rs. 40,000 = Rs. -39,696
Percentage of Profit:
To calculate the percentage of profit, we need to divide the profit by the cost price and multiply by 100.
Percentage of Profit = (Profit / Cost Price) * 100 = (-39,696 / 40,000) * 100 = -99.24%
Explanation:
The negative profit percentage indicates that the shopkeeper incurred a loss rather than earning a profit. Therefore, the correct answer should be none of the options provided.
The shopkeeper purchased 150 calculators at a rate of Rs. 250 each. Therefore, the total cost price of the calculators is calculated as follows:
Cost Price = Number of calculators * Cost per calculator = 150 * Rs. 250 = Rs. 37,500
Additional Expenses:
The shopkeeper also spent Rs. 2500 on transport and packing.
Total Cost Price:
To calculate the total cost price, we need to add the cost of the calculators and the additional expenses.
Total Cost Price = Cost Price + Additional Expenses = Rs. 37,500 + Rs. 2500 = Rs. 40,000
Labelled Price and Discount:
The shopkeeper fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price.
Discount:
The discount is calculated as a percentage of the labelled price. In this case, the discount is 5% of Rs. 320.
Discount = (5/100) * Rs. 320 = Rs. 16
Selling Price:
The selling price is the labelled price minus the discount given.
Selling Price = Labelled Price - Discount = Rs. 320 - Rs. 16 = Rs. 304
Profit:
Profit is calculated as the difference between the selling price and the cost price.
Profit = Selling Price - Total Cost Price = Rs. 304 - Rs. 40,000 = Rs. -39,696
Percentage of Profit:
To calculate the percentage of profit, we need to divide the profit by the cost price and multiply by 100.
Percentage of Profit = (Profit / Cost Price) * 100 = (-39,696 / 40,000) * 100 = -99.24%
Explanation:
The negative profit percentage indicates that the shopkeeper incurred a loss rather than earning a profit. Therefore, the correct answer should be none of the options provided.
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Community Answer
A shopkeeper purchased 150 identical pieces of calculators at the rat...
CP = 150 x 250 + 2500 = 40,000.
SP = 150 (320 x 0.95) = 45,600.
Profit% = 5600/40000 x 100 = 14%.
Hence the correct option is A.
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A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer?
Question Description
A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer?.
A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper purchased 150 identical pieces of calculators at the rate of Rs. 250 each. He spent a number of Rs. 2500 on transport and packing. He fixed the labelled price of each calculator at Rs. 320. However, he decided to give a discount of 5% on the labelled price. What is the percentage of profit earned by him?a)14%b)15%c)16%d)2%Correct answer is option 'A'. Can you explain this answer?.
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