A merchant bought 200 eggs, of which 38 were broken. He sold the remaining eggs at Rs 4.80 per dozen and thus gained 8%. What was his total investment?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs 60
The gain is on the whole investment (all 200 eggs), but money comes in only from the eggs that were not broken. So selling price \(=\) investment \(\times\,1.08\).
Eggs sold \(=200-38=162\)
Dozens sold \(\displaystyle =\frac{162}{12}=13.5\)
Money received \(=13.5\times4.80=\) Rs 64.80
Investment \(\displaystyle =64.80\times\frac{100}{108}=\) Rs 60
His total investment was Rs 60.