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A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).?
Verified Answer
A shopkeeper buys ₹50 per ream. At what price per quite should he sell...
CP per ream= Rs 50
Profit%= 20%
Profit= 50X20/100= Rs 10
SP= CP+ PROFIT
SP= Rs50+ Rs 10
Selling Price= Rs 60
This question is part of UPSC exam. View all Class 7 courses
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A shopkeeper buys ₹50 per ream. At what price per quite should he sell...
Cost Price Calculation:
The cost price of a ream is ₹50. Since 1 ream is equal to 20 quires, the cost price of 1 quire can be calculated as follows:
Cost price of 1 quire = ₹50 / 20 = ₹2.50
Profit Percentage:
To calculate the selling price with a 20% profit, we need to determine the profit percentage on the cost price.
Profit percentage = (Profit / Cost price) * 100
Since the desired profit percentage is 20%, we can substitute it into the formula above:
20 = (Profit / ₹2.50) * 100
Simplifying the equation:
Profit = (20 * ₹2.50) / 100
Profit = ₹0.50
Selling Price Calculation:
The selling price can be calculated by adding the profit to the cost price.
Selling price = Cost price + Profit
Selling price = ₹2.50 + ₹0.50
Selling price = ₹3.00
Conclusion:
To gain a 20% profit, the shopkeeper should sell 1 quire for ₹3.00.
The cost price of a ream is ₹50. Since 1 ream is equal to 20 quires, the cost price of 1 quire can be calculated as follows:
Cost price of 1 quire = ₹50 / 20 = ₹2.50
Profit Percentage:
To calculate the selling price with a 20% profit, we need to determine the profit percentage on the cost price.
Profit percentage = (Profit / Cost price) * 100
Since the desired profit percentage is 20%, we can substitute it into the formula above:
20 = (Profit / ₹2.50) * 100
Simplifying the equation:
Profit = (20 * ₹2.50) / 100
Profit = ₹0.50
Selling Price Calculation:
The selling price can be calculated by adding the profit to the cost price.
Selling price = Cost price + Profit
Selling price = ₹2.50 + ₹0.50
Selling price = ₹3.00
Conclusion:
To gain a 20% profit, the shopkeeper should sell 1 quire for ₹3.00.
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A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).?
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A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).? 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 shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).?.
A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).? 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 shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys ₹50 per ream. At what price per quite should he sell it to gain 20%?(1 ream = 20 quires ).?.
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