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Question
Hanif bought one box of 50 apples for Rs 400. He sold all the apples at the rate of Rs 10 each. Was there a profit or a loss? What was its percentage?
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Solution
Cost price of 50 apples = Rs 400
Selling price of 1 apple = Rs 10
∴ Selling price of 50 apples = 50 × 10 = Rs 500
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 500 − 400
= Rs 100
Let x % be the Hanif's profit. Then,
`"x"/100 = "Profit"/"cost price" = 100/400`
`=> "x"/100 xx 100 = 100/400 xx 100`
⇒ x = 25
∴ Hanif made 25% profit in this transaction.
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