Raghuvir purchased some perishable items for sale but 36% of those items could not be sold and went bad. However, Raghuvir managed to sell the rest of the items at a price that helped him earn an overall profit of 28%. At what percentage above the cost price of each item did Raghuvir sell each of the items that did not go bad?
Answer & explanation
Correct answer: option 1
36% = \(\frac{9}{25}\) & 285 = \(\frac{7}{25}\)
Ratio of Cp SP
Quantity 25 : 16
Price/quantity a : b
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Overall price 25 : 32
\(\frac{25a}{16b}\) = \(\frac{25}{32}\)
\(\frac{a}{b}\) = \(\frac{1}{2}\)
Profit% for each item = \(\frac{SP - CP }{CP}\)× 100
= \(\frac{2-1}{1}\) × 100
= 100%