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A merchant earns a profit of 20% by selling a basket containing 80 apples whose cost is Rs.240 but he gives one fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple?

A) Rs. 3.00
B) Rs. 3.60
C) Rs. 3.80
D) Rs. 4.80

Correct Answer:



C) Rs. 3.80

Description for Correct answer:
CP of 80 apples = Rs. 240

CP of 1 apples = Rs. 3

CP of 20 apples = Rs. 60

To earn profit of 20%,

SP = 120% of 240 = Rs. 288

But he sales 1 / 4 of his apples ie.., 20 apples for Rs. 60

SP of remaining 60 apples = 288 - 60 = Rs. 228

SP of 1 apple = \( \Large\frac{228}{60} = Rs.3.80 \)

Part of solved Profit and Loss questions and answers : >> Aptitude >> Profit and Loss

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