A Sports dealer bought 2000 hockey sticks for Rs.350 each. 10% of them were found to be defective and unit to be sold.At what price should he sell the remaining sticks to get an overall profit of 8%?
A. 360
B. 400
C. 420
D. 450
Solution(By Examveda Team)
Total Hockey sticks = 2,000
Price of each hockey stick = Rs. 350
Total price = 2,000 *350 = Rs. 7,00,000
But 10% hockey sticks were defective i.e. 200 hockey sticks were defective. It means 1800 s=hockey sticks cost him Rs. 7,00,000.
Selling price with 8% gain for total sticks = 7,00,000 + 8% of 7,00,000 = Rs. 7,56,000.
Selling price of each stick would be = 7,56,000/1800 = Rs. 420
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2000------> 350 rupees each means total cost price is 700000...
in 2000 10% defective means remaining 1800 sticks are good... he need to get 8% profit on Cost price means 700000*108/100=756000; so to get this amount he need to purchase those 1800 sticks to this price means each stick carries 756000/1800= 420.. so this is the answer....
Among 2000 sticks 10% were found defective
So he sold 10% at purchasing price i.e 2000*10% = 200*350 =70000
He want to make a profit 8% on overall sticks
so, 350*1.08 =378*2000= 756000
But he got already 70000 from defective item sold
Now..... 756000-70000 = 686000
He will have to sell remaining each by (686000/1800)= 381.11111 Rs.