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A person buys some pen and pencil from the market at a rate such that a pencil is twice as costly as pen. He sells them such that the cost of pencil is thrice the cost of pen. By selling a pen at twice of its cost price, he makes 150 % profit on the whole. Find the ratio of pencils to pen.
  • a)
    1 : 2
  • b)
    4 : 5
  • c)
    3 : 4
  • d)
    7 : 4
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A person buys some pen and pencil from the market at a rate such that ...
Let's assume the cost of a pen as 'x' dollars.

According to the given information:
Cost of a pencil = 2x dollars
Selling price of a pen = 2 * x dollars
Selling price of a pencil = 3 * x dollars

Profit percentage on the whole = 150%
Profit percentage formula = (Profit / Cost Price) * 100

So, the profit made on selling a pen at twice its cost price = (Selling price of pen - Cost price of pen) / Cost price of pen * 100 = (2x - x) / x * 100 = x / x * 100 = 100%

Therefore, the cost price of a pen is equal to the selling price of a pencil.

Let's calculate the cost price of a pencil:
Profit percentage on the whole = (Profit / Cost Price) * 100
150% = (Profit / (2x + 3x)) * 100
1.5 = (Profit / 5x) * 100
Profit = 1.5 * 5x / 100 = 7.5x / 100 = 0.075x

Selling price of a pencil = Cost price of a pencil + Profit
3x = 2x + 0.075x
3x - 2x = 0.075x
x = 0.075x
x = 40

Therefore, the cost price of a pen is 40 dollars and the cost price of a pencil is 2 * 40 = 80 dollars.

Ratio of pencils to pens = Cost price of pencils : Cost price of pens
Ratio of pencils to pens = 80 : 40
Ratio of pencils to pens = 2 : 1

Hence, the ratio of pencils to pens is 2 : 1, which corresponds to option A.
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Short Q&A:Q1: Why weekly markets are cheaper than permanent shops?Ans : Permanent shops have to incur a lot of expenditure like shop rent, electricity, fees to the government etc., but a weekly market shop owner don’t have to bear these expenses. Permanent shops holder also have to pay wages to their workers but weekly market shop owner have helpers from their family members, and thus they don’t need to hire workers. And are cheaper than permanent shops.Q2: Why Neighbourhood market is preferred by the Indians?Ans : Neighbourhood markets are near our house, one can go there at any day of the week. The buyers and sellers know each other and these shops also provide goods on credits,Q3: Differentiate between shopping complexes and malls.Ans : Markets mostly in urban areas having many shops are called shopping complexes. In many urban areas there are large multi-storeyed air conditioned building with shops on different floors, knows as malls.Q4: Establish relationship between the market and the inequality?Ans : Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Thus it forms an inequality amongst people.Q5: Differentiate between permanent and temporary shops.Ans : Permanent shops contains goods that are expensive in comparison to goods of temporary shops. Permanent shops store the things they sell in their shops but temporary shops owner store goods to be sold at their home. Long Q & A : Q1: What is a chain of market? Do you think that everyone gains equally in the market?Ans:A series of markets that are connected like links forms chain of market. Products passes from one market to another. Shop owner in weekly market and in shopping complexes are different people. One is small trader with little money while other can spend lot of money. They also earn unequal amounts. Similarly buyers are also different, there are many who are not able to afford the cheapest goods while buys only branded items from shopping malls. Everyone do not get equally in a market. Individual answer. Related: Short and Long Question Answers - Market Around Us?

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A person buys some pen and pencil from the market at a rate such that a pencil is twice as costly as pen. He sells them such that the cost of pencil is thrice the cost of pen. By selling a pen at twice of its cost price, he makes 150 % profit on the whole. Find the ratio of pencils to pen.a)1 : 2b)4 : 5c)3 : 4d)7 : 4Correct answer is option 'A'. Can you explain this answer?
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A person buys some pen and pencil from the market at a rate such that a pencil is twice as costly as pen. He sells them such that the cost of pencil is thrice the cost of pen. By selling a pen at twice of its cost price, he makes 150 % profit on the whole. Find the ratio of pencils to pen.a)1 : 2b)4 : 5c)3 : 4d)7 : 4Correct answer is option 'A'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A person buys some pen and pencil from the market at a rate such that a pencil is twice as costly as pen. He sells them such that the cost of pencil is thrice the cost of pen. By selling a pen at twice of its cost price, he makes 150 % profit on the whole. Find the ratio of pencils to pen.a)1 : 2b)4 : 5c)3 : 4d)7 : 4Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person buys some pen and pencil from the market at a rate such that a pencil is twice as costly as pen. He sells them such that the cost of pencil is thrice the cost of pen. By selling a pen at twice of its cost price, he makes 150 % profit on the whole. Find the ratio of pencils to pen.a)1 : 2b)4 : 5c)3 : 4d)7 : 4Correct answer is option 'A'. Can you explain this answer?.
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