Gaurav bought 100 dozen of pens at Rs. 50 per dozen. He spent Rs. 500 on a particular tax and sold them at Rs. 10 per pen. What was his profit or loss percent?

The total cost price for 100 dozen pens is (100 * 50) + 500 (tax) = Rs. 5,500. Since 1 dozen contains 12 pens, 100 dozen equals 1200 pens, which are sold at Rs. 10 each for a total selling price of 1200 * 10 = Rs. 12,000. Using the profit percentage formula, (Profit / Cost Price) * 100, the calculation is ((12,000 - 5,500) / 5,500) * 100. The profit percentage is 118.18%, which corresponds to an 118% profit.

• Thanks
• Wrong explanation