Question 59
A shopkeeper purchased pens in bulk for $$₹ 28$$ each. He sold each for $$₹ 40$$. What was his profit percentage?
Solution
Let the number of pens purchased by shopkeeper = n
Cost price of each pen = $$₹ 28$$
$$=$$> Cost price of total pens = 28n
Selling price of each pen = $$₹ 40$$
$$=$$> Selling price of total pens = 40n
$$\therefore\ $$Profit percentage = $$\frac{40n-28n}{28n}\times100$$ = $$\frac{12n}{28n}\times100$$ = 42.85%
Hence, the correct answer is Option C
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