Question 54

For every ₹5 worth of revenue, a retailer earns ₹1. If the cost of the goods was ₹4800, then how much did he earn?

Solution

For every ₹5 worth of revenue, a retailer earns ₹1.

Here we can take revenue as the selling price of the goods.

selling price = ₹5

cost price = selling price - profit/earning

= ₹5 - ₹1

= ₹4

Profit percentage = $$\frac{1}{4}\times\ 100$$

= 25%

If the cost of the goods was ₹4800.

Profit = earning = ₹4800 of 25%

= $$4800\times\ \frac{25}{100}$$

= $$4800\times\ \frac{1}{4}$$

= ₹1200

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