A vegetable seller can buy lemons at the rate of $ 20 per lemon. Each lemon is part of an overall collection and the value is linked to the number of lemons that are already in the market. So, the vegetable seller sells the first lemon for $ 2, second one for $4 third for $ 6. and so on. If he wants to make an overall profit of at Least 40%, what is the minimum number of lemons he should sell?
Answers
Given : A vegetable seller can buy lemons at the rate of $ 20 per lemon. vegetable seller sells the first lemon for $ 2, second one for $4 third for $ 6. and so on
To find : to make an overall profit of at Least 40%, what is the minimum number of lemons he should sell
Solution:
Let say number of lemon bought = n
Cost price of lemon = 20n
Profit of atleast 40 % = (40/100)20n = 8n
Selling price ≥ 20n + 8n
Selling price ≥ 28n
Selling Price = 2 + 4 + 6 + .......................+ 2n
= 2( 1 + 2 + 3 + .....................+ n)
= 2 n(n+ 1)/2
= n (n + 1)
n (n + 1) ≥ 28n
=> n + 1 ≥ 28
=> n ≥ 27
He should sell minimum 27 lemons to make an overall profit of atleast 40 %
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