A ream of 500 pages is bought for ₹280, and packets of 25 pages are made from it. Each packet is sold for ₹18. Find the percentage profit or loss. (Rounded off up to one decimal place).
Show answer & explanation
Correct answer: B
Explanation
The Correct answer is option 2 i.e. 28.6% profit
Given that
A ream of 500 pages is bought for ₹280
The packets of 25 pages are made from it.
Thus, the number of packets = 500/25 = 20
The C.P. of each packet = 280/20 = ₹14
The S.P. of each packet = ₹18
Hence,
Profit % = [(S.P. - C.P.)/C.P.] × 100
= [(18 - 14)/14] × 100 = 28.6%