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A fruit vendor bought 800 apples for ₹4,800. He spent ₹800 on transportation. For how much should he sell each apple to get a profit of ₹10 on each apple?
₹32
₹76
₹12
₹17
₹17
Calculate total cost (4800 + 800 = 5600), find cost per apple (5600 / 800 = 7), then add the target profit per apple (7 + 10 = 17).
Cost of 800 apples = ₹4,800, Transportation cost = ₹800, Desired profit per apple = ₹10
Selling Price=CostPriceperunit+Profitperunit
Calculate total cost (4800 + 800 = 5600), find cost per apple (5600 / 800 = 7), then add the target profit per apple (7 + 10 = 17).
Forgetting to add the transportation cost to the initial cost price, which would lead to an incorrect unit cost of 6 instead of 7.
Calculate Total Cost Price
Add the purchase price of the apples and the transportation expense to find the total investment.
Total CP=4800+800=5600
Calculate Cost Price per Apple
Divide the total cost price by the total number of apples bought.
CPperapple=8005600=7
Calculate Selling Price per Apple
Add the required profit of ₹10 per apple to the cost price per apple.
SPperapple=7+10=17
D is correct because the total cost per apple is ₹7 and adding the profit of ₹10 results in a selling price of ₹17.
This concept of adding overheads (transport, taxes, labor) to the base cost is fundamental in business math and profit & loss problems.
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