Question
Download Solution PDFA vendor bought lemons at 7 for ₹1. How many lemons must he sell for ₹1 to gain 40%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price of 7 lemons = ₹1
Profit percentage = 40%
Formula used:
Cost Price (C.P.) of 1 lemon = ₹1 ÷ 7
Selling Price (S.P.) for a profit percentage = C.P. × (1 + Profit Percentage)
Calculations:
C.P. of 1 lemon = \(\dfrac{1}{7}\) ₹
To gain 40% profit, the S.P. of 1 lemon = \(\dfrac{1}{7} \times (1 + \dfrac{40}{100})\)
⇒ S.P. of 1 lemon = \(\dfrac{1}{7} \times 1.4 = \dfrac{1.4}{7}\) ₹
⇒ S.P. of 1 lemon = ₹0.20
To find how many lemons must be sold for ₹1, we divide ₹1 by the S.P. of 1 lemon:
\(\dfrac{1}{0.20} = 5\)
∴ The vendor must sell 5 lemons for ₹1 to gain a 40% profit.
Last updated on Jul 17, 2025
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