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A shopkeeper procured 1,600 boxes of a chocolate brand at a cost of $1
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08 Oct 2023, 23:57
08 Oct 2023, 23:57
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A shopkeeper procured 1,600 boxes of a chocolate brand at a cost of $10 per box. If he sold \((\frac{3}{4})^{th}\) of the boxes for one and half times their procurement cost and sold the remaining boxes at a loss of 25 percent of their procurement cost, what was the shopkeeper’s gross profit on the total sale?
(A) $5,000
(B) $5,500
(C) $6,000
(D) $6,500
(E) $7,500
(A) $5,000
(B) $5,500
(C) $6,000
(D) $6,500
(E) $7,500
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Re: A shopkeeper procured 1,600 boxes of a chocolate brand at a cost of $1
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13 Jan 2024, 06:26
13 Jan 2024, 06:26
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Post A Detailed Correct Solution For these FRESH Quant & Verbal Questions And Get A Kudos
Re: A shopkeeper procured 1,600 boxes of a chocolate brand at a cost of $1
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27 Mar 2024, 12:13
27 Mar 2024, 12:13
Expert Reply
OE
We know that the shopkeeper procured 1,600 boxes a cost of $10 per box.
Thus, the total cost of the boxes = $ (10 × 1, 600) = $16, 000.
Selling price of 3/4 of 1,600 or 1200 boxes = $ (1.50 × 10) = $15 per box.
Thus, selling price of 1,200 boxes = $ (15 × 1, 200) = $18, 000 . . . (i)
Selling price of (1600 − 1, 200) or 400 boxes = $ (100 − 25)% of 10 = $ 75/100*10 = $7.50 per box.
Thus, selling price of 400 boxes = $ (7.50 × 400) = $3, 000 . . . (ii)
Thus, from (i) and (ii):
Total selling price = $ (18, 000 + 3, 000) = $21, 000.
Thus, gross profit = Total selling price − Total procurement price = $ (21, 000 − 16, 000) = $5, 000.
The correct answer is Option A
We know that the shopkeeper procured 1,600 boxes a cost of $10 per box.
Thus, the total cost of the boxes = $ (10 × 1, 600) = $16, 000.
Selling price of 3/4 of 1,600 or 1200 boxes = $ (1.50 × 10) = $15 per box.
Thus, selling price of 1,200 boxes = $ (15 × 1, 200) = $18, 000 . . . (i)
Selling price of (1600 − 1, 200) or 400 boxes = $ (100 − 25)% of 10 = $ 75/100*10 = $7.50 per box.
Thus, selling price of 400 boxes = $ (7.50 × 400) = $3, 000 . . . (ii)
Thus, from (i) and (ii):
Total selling price = $ (18, 000 + 3, 000) = $21, 000.
Thus, gross profit = Total selling price − Total procurement price = $ (21, 000 − 16, 000) = $5, 000.
The correct answer is Option A
