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Question

Fill in the blanks to make the statement true: If 20 lemons are bought for 10 and sold at 5 for three rupees, then ________ in the transaction is _______ %.


A

Profit

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B

20%

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Solution

Step 1: Apply unitary method to evaluate the price of each item

Given, cost price of 20 lemons =10

So, the cost price of 1 lemon will be =1020, i.e. 12

Now, the cost price of 5 lemons will be =52

We are also given the sale price of 5 lemons i.e. 3

As the sale price for 5 lemons is more than the cost price of 5 lemons, thus, a profit is made on sale.

Step 2: Evaluate the profit

We know that, Profit(P)=SalePrice(SP)-CostPrice(CP)

P=SP-CPP=3-52P=6-52P=12

So, the profit percentage will be =ProfitCP×100

Profit%=1252×100Profit%=15×100Profit%=20%

Hence, a profit of 20% is made on sale of lemons.


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