A shopkeeper bought lock at the rate of 8 locks for Rs 34 and sold them at the rate of 12 locks for Rs 57 calculate his gain percent and the number of lock he should sell to earn a profit of rupees 45
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Cost price of one lock = 34 / 8 = Rs 4.25
Selling price of one lock = 57 / 12 = Rs 4.75
Profit got by selling one lock = Selling price - Cost price = 4.75 - 4.25 = Rs 0.50
The shopkeeper makes 50 paise profit by selling one lock. In order to make Rs 45 profit, he/she needs to sell 45/0.5 = 90 locks
Selling price of one lock = 57 / 12 = Rs 4.75
Profit got by selling one lock = Selling price - Cost price = 4.75 - 4.25 = Rs 0.50
The shopkeeper makes 50 paise profit by selling one lock. In order to make Rs 45 profit, he/she needs to sell 45/0.5 = 90 locks
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