Question : A shoe company sold 50 pairs of shoes costing Rs. 189.50 each, with a total revenue of Rs. 10,000. Calculate the profit in Rs.
Option 1: Rs. 522
Option 2: Rs. 525
Option 3: Rs. 573
Option 4: Rs. 612
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Correct Answer: Rs. 525
Solution :
Cost price (CP) of 1 pair = Rs.189.50
$\therefore$ CP of 50 pairs = 189.50 × 50 = Rs. 9475
Selling price(SP) of 50 pairs = Rs.10000
$\therefore$ Profit obtained = SP – CP = (10000 – 9475) = Rs. 525
Hence, the correct answer is Rs. 525.
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