Karim bought 150 dozen of pencils at Rs.10 a dozen. His overhead expenses were Rs.100. He sold them at Rs. 1.20 each. What was his profit or loss percent?
Given:
Karim bought 150 dozen of pencils at Rs.10 a dozen. His overhead expenses were Rs.100. He sold them at Rs. 1.20 each.
To do:
We have to find his profit or loss percent.
Solution:
Cost price of 12 pencils$=Rs.\ 10$.
Cost price of 150 dozen pencils$=Rs.\ 10\times150=Rs.\ 1500$.
Overhead expenses$=Rs.\ 100$.
Total cost incurred$=Rs.\ (1500+100)=Rs.\ 1600$.
Selling price of 1 pencil$=Rs.\ 1.20$
Selling price of 150 dozen pencils$=Rs.\ 1.20\times150\times12$
$=Rs.\ 2160$
Therefore,
Profit earned$=Rs.\ (2160-1600)=Rs.\ 560$.
Profit percentage$=\frac{560}{1600}\times100$%
$=35$%
Profit per cent of Karim is 35%.
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