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Identify and explain the following concept: Abhijeet sold 15 chairs for ₹ 3000, for each chair he earned ₹ 200. - Economics

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प्रश्न

Identify and explain the following concept:

Abhijeet sold 15 chairs for ₹ 3000, for each chair he earned ₹ 200.

स्पष्ट करा

उत्तर

Concept: Profit per Unit

Explanation:

Abhijeet earned ₹ 200 as profit for each chair sold. Since he sold 15 chairs, the total profit is calculated as:

Total Profit = Profit per unit × Number of units sold

= 200 × 15

= 3000

Thus, the total profit earned by Abhijeet from selling 15 chairs is ₹ 3000.

This concept refers to profit per unit, which is the amount of profit earned on each unit of product sold.

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