1.
A shopkeeper purchased
30 bags at $
60 each. He
found that 5 bags were
defective and he sold these at
10 each. At what rate
should he sell each of the
remaining bags so as to gain
5% on the whole?
Answers
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Answer
We should sell each bag for $65 in order to get profit of 5% on whole
Explanation
He purchased 30 bags for $ 60 each
30*60=$1800
He sold 5 defective pieces for $10 each
=5*10=$50
He should sell remaining bags i. e. 25 bags si as to gain profit of 5% on whole
=25*60*5/100=$75 is 5% of $1500
Therefore, total amount =1500+75=$1625
Therefore we should sell each bag for $1625/25 = $65
I hope the answer will help you mate
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