Rajesh purchases 30 dozen pens at a rate of Rs 475 per dozen. He sells each pen for Rs 66. What is his total profit or loss percentage?
Show answer & explanation
Correct answer: A
Explanation
Given:
Cost Price Rate = ₹475 per dozen
Quantity = 30 dozen = 360 pens
Selling Price per pen = ₹66
According to the formula:
Total Cost Price = Rate × Number of dozens
Total Selling Price = Price per pen × Total number of pens
Profit % = (Profit / Cost Price) × 100
Total Cost Price = 475 × 30 = 14,250
Total Selling Price = 66 × 360 = 23,760
Profit = 23,760 − 14,250 = 9,510
Profit % = (9,510 / 14,250) × 100 = 66.67%