A trader buys 80 pens for ₹2,400. He sells 60 of them at ₹40 each and the remaining at ₹25 each. What is his profit or loss percentage?
Show answer & explanation
Correct answer: C
Explanation
Cost price of 80 pens = ₹2400
Therefore, cost price of 1 pen = 2400 ÷ 80= ₹30
Selling price of 60 pens = 60 × 40= ₹2400
Selling price of the remaining 20 pens = 20 × 25
= ₹500
Total selling price = 2400 + 500= ₹2900
Profit = 2900 - 2400= ₹500
Profit percentage = (500/2400) × 100= 20.83%