Question

A vendor purchases binder clips at $12$ for $Rs.60.$ How many clips should h sell for $Rs.60$ to earn a profit of $20%$?

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Solution

Step 1: Find the cost price of the one clip and profit on one clip:$12clips=Rs60$$1clip=60÷12\phantom{\rule{0ex}{0ex}}=Rs5$The profit of the one clip is$20%profit=0.2x5\phantom{\rule{0ex}{0ex}}=Rs1$Step 2: Find the selling price of the clip. Selling Price $=$ Cost Price $+$ ProfitSelling Price $=5+1=Rs6$Now, find the number of clips to sell for $Rs60:$Number of clips$=60÷6=10$Hence, the vendor needs to sell $10$ clips for the price of $Rs60.$

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