Question

A coin collector bought a set of coins for $250, and then sold the set for $600, making a profit of $50 per coin. How many coins were in the set?

Answer 1

4 coins were the set

Answer 2

Find the profit:

Profit = Selling Price - Cost Price

Profit = 600 - 250

Profit = Rs 350

Find the number of coins:

Profit per coin = Rs 50 (Given)

Number of coins = profit ÷ profit per coins

Number of coins = 350 ÷ 50

Number of coins = 7

Answer: There were 7 coins in the set.