Pens are bought by a shopkeeper at the rate of ₹1,200 for 150 pens and sold at the rate of ₹1,620 for 180 pens. His profit or loss percent is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Profit 12.5%.
The cost price of 150 pens = Rs. 1200
The selling price of 180 pens = 1620
Profit% = (Profit/Cost price) × 100
The cost price of 150 pens = Rs. 1200
The cost price of 1 pen = 1200/150 = Rs. 8
The selling price of 180 pens = 1620
The selling price of 1 pen = 1620/180 = Rs. 9
Profit = 9 - 8 = Rs. 1
Profit% = (1/8) × 100 = 12.5