At a cost of per ream, Bhajan Singh purchased 120 reams of paper. He paid to the coolie in addition to for transportation, and for octroi at rate of . What must the selling price be per ream if he wants to make an profit?

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Concept- Find the total investment, or total cost price, that Bhajan Singh paid for the reams first. The total selling price of ream is then determined by formula

which can be used later to find the selling price of one ream of paper. So, apply this idea to the provided situation to find a solution.
Given that there are 120 total reams
One ream cost

.
So, the reams' total cost

Transportation costs are

.
Octroi costs 40 paise per ream, or

.
Hence, the total amount paid to octroi

Price of the coolie

Hence, Bhajan Singh's total investment was

The total cost price (CP) is therefore

.
Bhajan Singh wants to make a

.
We are aware of the selling price (SP) formula, which is:

Consequently, the reams' selling price

So,

is the total selling price for 120 reams.
So, selling price of one ream