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Hanif bought ...

Question

Hanif bought a case of 50 apples for Rs 260. He sold all the apples at Rs 5 per apple. How much was his profit or his loss?

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Solution

Cost price of 50 apples = Rs 260
Selling price of an apple = Rs 5
∴ Selling price of 50 apples = Rs 50 × 5 = Rs 250
Here, the cost price is greater than the selling price.
So, he has incurred a loss.
Loss = CP – SP = Rs 260 – Rs 250 = Rs 10

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