A merchant bought 60 sheep at ₹120 per sheep. He sold 40 of them at ₹150 each. Another 10 of the sheep died. What should be the selling price of the remaining sheep, if he wants a total profit of ₹800?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹200.
Concept Used :
Profit = S.P - C.P.
Explanation :
The cost price of 60 sheeps = 60 × ₹120 = ₹7200
Given that, profit = ₹800
So, S.P. = C.P. + profit
S.P. = 7200 + 800 = 8000
Now S.P. of 40 sheeps = 40 × ₹150 = ₹6000
The S.P. of remaining 10 sheeps = 8000 - 6000 = 2000
So, the S.P. of each sheep = 2000/10 = 200.
Hence the S.P. of remaining sheeps is ₹200 per sheep.