A shopkeeper buys 25 pencils at 65 rupees. He sells them at 3.50 rupees each. Find the profit or loss incurred by the shopkeeper.
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total pencils=25
total spend money for pencils=65
cost of each pencil=65/25
=2.6 rupees per pencil
total money for selling pencils each one as 3.50 rupees=3.50×25
=87.5 rupees
profit =87.5-65=22.5
total profit percentage = profit/cost price ×100
=22.5/65×100
=34.61% is profit
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