A shopkeeper bought 60 apples at the rate of Rs 240 per dozen. For how much should he sell an apple in order to gain 5 %? Options :212022none
Question
A shopkeeper bought 60 apples at the rate of Rs 240 per dozen. For how much should he sell an apple in order to gain 5 %? Options :212022none
Solution
Sure, let's solve this step by step:
Step 1: First, we need to find out the cost price of each apple. The shopkeeper bought 60 apples at the rate of Rs 240 per dozen. This means he bought 5 dozens of apples (since 60 apples = 5 dozens). So, the total cost price for 60 apples = 5 * Rs 240 = Rs 1200.
Step 2: Now, the cost price of each apple = Total cost price / Total number of apples = Rs 1200 / 60 = Rs 20.
Step 3: The shopkeeper wants to gain 5% on selling each apple. So, the gain on each apple = 5% of cost price of each apple = 5/100 * Rs 20 = Rs 1.
Step 4: Therefore, the selling price of each apple should be = Cost price of each apple + Gain on each apple = Rs 20 + Rs 1 = Rs 21.
So, the shopkeeper should sell each apple for Rs 21 to gain a profit of 5%. Hence, the correct option is 2.
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