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If books bought at prices ranging from Rs.200 to Rs.350 are sold at prices ranging from Rs.300 to Rs.425, what is the greatest possible profit that might be made in selling eight books ?

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Rs.1800

Rs.600

Cannot be determined

None of these

answer is A.

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Detailed Solution

Concept- The profit and loss statement is really a financial statement that summarises the revenues, costs, and expenses incurred over a given time period.
Here, Least Cost Price

Rs.

Rs. 1600
Greatest Selling Price

Rs.

Rs. 3400
Required profit

Rs.

Rs. 1800
Hence, the correct answer is option 1.

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