Question

A shopkeeper bought locks at a rate of 8 locks for Rs 34 and sold them at a rate of 12 locks for Rs 57. Calculate:

1. his gain percent and

2. the number of locks he should sell to earn a profit of Rs 45. (PLZ answer soon exam approaching)

Answer 1

1.

Cost price 8 lock = 34

Cost price of 1 lock = 34/8 = 4.25

Selling price of 12 lock = 57

Sp of 1 lock = 57/12 = 4.75

Proft = 4.75 - 4.25 = 0.50

Percent = 0.50/4.5  x 100 = 11.11%

2.

Profit 1 one lock = Rs. 0.5

Total profit = 45

Number of Locks = 45/0.5 = 90 locks need to sell