Question

A bookseller sold 320 pens at Rs. 23 each. If the cost price of the pen is 12% less than the marked price and he gives a discount of 8%. Find out the profit/loss of the shopkeeper in rupees?
1. 320
2. 300
3. 330
4. 325

Answer 1

Correct Answer - Option 1 : 320

Given:

The selling price of each book = Rs. 23

The cost price of the pen is 12% less than the marked price of the pen.

Discount = 8% 

Formula used:

Profit = S.P. – C.P.

D% = (D/M.P.) × 100

S.P. = M.P. – D

where D% ⇒ Discount percentage

C.P. → Cost price

S.P. → Selling price

D → Discount

MP → Marked price

Calculations:

Cost price (C.P.) = M.P. × 88/100

⇒ CP ∶ MP = 22 ∶ 25

Let the M.P. and the C.P. be 25x and 22x respectively.

Since D% = (D/MP) × 100

⇒ 8 = (D/25x) × 100

⇒ D = 2x

S.P. = 25x – 2x = 23x

But the SP is Rs. 23 which means 23x = 23

⇒ x = 1

Profit = SP – CP = 23 – 22 = Rs. 1

Total profit = 320 × 1 = Rs. 320

∴ The profit is Rs. 320.