Question
Download Solution PDFA shopkeeper sells rice. He buys it at a rate 15% less than the selling price. His total sales value for a month is Rs. 5,50,000 and he pays Rs. 8,000 as rent of the shop at the start of the month. His profit percentage in the month is ______.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven data:
Buying price 15% less than selling price, total sales = Rs. 5,50,000, rent = Rs. 8000.
Solution:
Total cost price = Total sales × (1 - 15%) = Rs. 5,50,000 × 0.85 = Rs. 4,67,500
Total cost including rent = Rs. 4,67,500 + Rs. 8000 = Rs. 4,75,500
Profit = Total sales - Total cost = Rs. 5,50,000 - Rs. 4,75,500 = Rs. 74,500
Profit percentage = (Profit / Total cost) × 100 = (74,500 / 4,75,500) × 100 = 15.7%
Therefore, his profit percentage in the month is 15.7%.
Last updated on Jul 8, 2025
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