Question

Hanif bought one box of 50 apples for Rs 400. He sold all the apples at the rate of Rs 10 each. Was there a profit or a loss? What was its percentage?

Answer 1

Cost price of 50 apples = Rs 400
Selling price of 1 apple = Rs 10
∴ Selling price of 50 apples = 50 × 10 = Rs 500
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 500 − 400
= Rs 100
Let x% be the Hanif's profit. Then,
$\frac{x}{100}=\frac{\mathrm{profit}}{\mathrm{cost}\mathrm{price}}=\frac{100}{400}$
⇒$\frac{x}{100}\times 100=\frac{100}{400}\times 100$
⇒x = 25
∴ Hanif made 25% profit in this transaction.