Question

Ram bought an iPhone for Rs.75,000, Mac book for Rs.95,000, iPad for Rs.30,000 and sold all the items to Shyam at an average price of Rs.70,000. How much Profit did Ram made out of the deal?
1. Rs.11,000
2. Rs.12,000
3. Rs.10,000
4. Rs.10,500

Answer 1

Correct Answer - Option 3 : Rs.10,000

Given: 

Price of iPhone = Rs.75,000

Price of Mac book = Rs.95,000

Price of iPad = Rs.30,000

All items are sold to Shyam at an average price of Rs.70,000. 

Formula used

Profit = Sell price - cost price 

Calculation 

Total Cost Price = 75,000 + 95,000 + 30,000 = Rs. 200000

Average sell price = 70,000

Total Sell Price of 3 items = 70,000 × 3 = 210000

Profit = 210000 - 200000 = 10,000 Rs.

∴ The Profit is Rs. 10,000.