A shopkeeper purchased 150 identical pieces of furniture at rate of Rs., 250 each. He spent an amoun

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7.Profit and Loss

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A shopkeeper purchased $150$ identical pieces of furniture at the rate of $Rs.\, 250$ each. He spent an amount of $Rs.\, 2500$ on packing. He fixed the price of each each furniture at $Rs.\, 320$. However, he decided fe give a discount of $5 \%$ on the labeled price. What is the percent profit earned by him?

A

$16$

B

$15$

C

$14$

D

$20$

Solution

cost Price of each furniture (including packeging)

$=$ Rs. $\left[250+\frac{2500}{150}\right]=$ $Rs.$ $\frac{800}{3}$

Marked price (given) $=$ $Rs. 320$

$SP$ $(5 \%$ discount on $MP )=$ $Rs.$ $[320-16]=$ $Rs. 304$

$\Rightarrow$ $\%$ Profit $=\frac{304-\frac{800}{3}}{\frac{800}{3}} \times 100=14 \%$

Standard 13

Quantitative Aptitude

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