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Question
Kantabai bought 25 saris from a wholesale merchant for Rs 10000 and sold them all at Rs 460 each. How much profit did Kantabai get in this transaction?
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Solution
Cost price of 25 saris = Rs 10000
Selling price of 1 sari = Rs 460
∴ Selling price of 25 saris = 25 × 460 = Rs 11500
Since selling price is more than cost price, so there is a profit.
Profit = Selling price − Cost price
= 11500 − 10000
= Rs 1500
Hence, Kantabai made a profit of Rs 1500 in this transaction.
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