Joseph buys 400 eggs for rupees 1400 if out 400 eggs 40 are rotten, find the percentage of loss or profit on selling each egg for rupees 4
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Answer:
Joseph makes of profit of 2.86 per cent (approx)
Step-by-step explanation:
Out of 400 eggs, 40 are rotten. Hence Joseph's transaction relates to
400 - 40 = 360 eggs.
CP for 360 eggs = Rs.1400
CP for 1 egg = 1400/360 = Rs.3.89
SP for 1 egg = Rs.4
As SP > CP, Joseph makes a profit.
Profit per egg = 4 - 3.89 = 0.11
CP per egg = 3.89
Profit% = 100*(Profit/CP)
= 100*(0.11/3.89)
= 2.86 (approx)
Joseph makes a profit of 2.86 per cent
The Profit% is independent of the number of eggs sold. This means that you could calculate the cost price and selling price of all the 360 eggs and yet arrive at the same result.
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