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Question
A store purchased pens at ₹ 216 per dozen. He paid ₹ 58 for conveyance and sold the pens at the discount of ₹ 2 per pen and made a overall profit of ₹ 50. Find the M.P. of each pen.
Solution
Cost of a dozen pens = ₹ 216
Paid for conveyance = ₹ 58
Cost price of 12 pens = 216 + 58
= ₹ 274 ...[∵ 1 dozen = 12]
Profit of 12 pens = ₹ 50
Profit = S.P. – C.P.
⇒ 50 = S.P. – 274
⇒ S.P = 50 + 274 = ₹ 324
Also discount allowed per pen = ₹ 2
Discount for 12 pens = 2 × 12 = ₹ 24
S.P. = M.P. – Discount
⇒ 324 = M.P. – 24
⇒ M.P. = 324 + 24 = ₹ 348
Marked price for 12 pens = ₹ 348
M.P. of a pen = `348/12` = ₹ 29
M.P. per pen = ₹ 29
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