A person makes 1000 articles at a cost of Rs 1.2 on each article. He makes up the price in such a way that if he sells only 70% of the articles he gets a profit of 16.66%. But if he sells 750 articles then what will be the profit % if remaining articles are spoilt?
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Answer: 25%
Step-by-step explanation:
his total cost = price/article x number of articles
total cost = 1200
now he earns a profit of 16.66% = 100/6 %
Selling price for 70 articles = (100+profit) x total cost/100
Selling price for 70 articles = 700/6 x 12
Selling price for 70 articles = 1400
selling price for one article = total selling price / number of articles
selling price/article = Rs.20
total selling price of 750 articles = 1500
profit = Selling Price - Cost Price
profit = 1500-1200
profit = 300
Profit % = profit/ Cost Price x 100
profit % = 25%
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