Multiple choice

A shopkeeper buys a dozen eggs for $10. Two eggs are broken. He sells the remaining eggs at a profit of 20% on the cost price. What is the selling price per egg?

  1. $1.00
  2. $1.10
  3. $1.20
  4. $1.30
  5. $1.40
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Cost of 12 eggs = 10. Remaining eggs = 10. Selling price for 20% profit = 10 * 1.2 = 12. Price per egg = 12 / 10 = 1.20.

AI explanation

The cost price for the dozen eggs is \$10, yielding a total desired profit of 20% using the formula Total Selling Price = Cost Price + (Profit Percentage of Cost Price). The profit amount is 20% of \$10, which is \$2, making the total selling price for the remaining 10 eggs \$12. Dividing this total by the 10 unbroken eggs gives a selling price per egg of $12 / 10 = $1.20.

Keep practicing — related questions