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A shopkeeper purchased pens in bulk for Rs. 28 each. He sold each for Rs. 40. What was his profit percentage?
1. 28.40%
2. 48.12%
3. 42.85%
4. 38.75%

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Correct Answer - Option 3 : 42.85%

Ans: 3

Given:

Cost price for one pen is = 28 Rs.

Selling price for one pen is = 40 Rs.

Formula used:

Profit percent = \(\frac{{selling\;price - cost\;price}}{{cost\;price}}\) × 100
 

Calculation:

Cost price for one pen is = 28 Rs.

Selling price for one pen is = 40 Rs.

difference between selling price and cost price = 40 - 28 = 12 Rs.

profit percent = \(\frac{{12}}{{28}}\) × 100 = 42.85%

∴ Profit percent for the shopkeeper is 42.85%.

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