A shop man bought pens at the rate of 7 for 10 and sold them at a profit of 40%. How many pens would a customer get for 10 ?
Question
A shop man bought pens at the rate of 7 for 10 and sold them at a profit of 40%. How many pens would a customer get for 10 ?
Solution
To solve this problem, we need to follow these steps:
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First, we need to find out how much the shop man sold each pen for. He bought 7 pens for 10, so the cost of each pen for him is 10/7 = 1.43 approximately.
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He sold the pens at a profit of 40%. So, the selling price of each pen is 1.43 + 40% of 1.43 = 1.43 + 0.57 = 2 approximately.
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Now, if a customer has 10, the number of pens he can buy is 10/2 = 5 pens.
So, a customer would get 5 pens for 10.
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