Question : A man bought 25 crates of oranges for INR 10,000. He lost five crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at:
Option 1: INR 650
Option 2: INR 625
Option 3: INR 600
Option 4: INR 575
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Correct Answer: INR 625
Solution :
The cost price of 25 crates of oranges = INR 10,000
Total profit = 25% of total cost = 25% of INR 10,000 = INR 2,500
The selling price of 25 crates of oranges = cost price + total profit
= INR 10,000 + INR 2,500
= INR 12,500
Number of crates of oranges sold = 25 – 5 = 20
⇒ Selling price per crate = $\frac{12,500}{20}$ = INR 625
Hence, the correct answer is INR 625.
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