Multiple choice

Ramesh makes 750 articles at a cost of 60 paise per article. He fixes the selling price such that if only 600 articles are sold, he would have made a profit of 40 % on the outlay. However, 120 articles got spoilt and he was able to sell 630 articles at this price. Find his actual profit percent as the percentage of total outlay assuming that the unsold articles are useless. ?

  1. 42 %

  2. 53 %

  3. 47 %

  4. 46 %

  5. 50 %
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Total cost = 750 × 0.60 = Rs. 450. Target: 40% profit when 600 sold, so selling price = 450(1.40)/600 = 630/600 = Rs. 1.05 each. Actual: 120 spoilt, sold 630 at Rs. 1.05 = Rs. 661.50. Profit = 661.50 - 450 = 211.50. Profit % = (211.50/450) × 100 = 47%.

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