By selling 30 metres of cloth a shopkeeper makes a profit equivalent to the selling price of 10 metres of cloth. Find the selling price of 1 metre of cloth when the cost price of 1 metre of cloth is ₹ 480.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹ 720.
Let the selling price of 1 m cloth be ₹ x
The cost price of 1 m cloth = Rs 480
Cost price of 30 m cloth = 30 × 480 = 14400
We know:
The profit of selling 30 m is equal to the selling price of 10 m
Profit = Selling price - cost price
According to the question;
⇒ 10x = 30x - 14400
⇒ 20x = 14400
⇒ x = 720
The selling price of 1 metre of cloth is ₹ 720.