Question
Download Solution PDFThe below given pie-chart shows the percentage distribution of the expenditure incurred in publishing a book. Study the pie-chart and answer the given question:
If 5500 copies are published and the transportation cost on them amounts to Rs. 82500, then what should be the selling price of the book so that the publisher can earn a profit of 25%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Number of copies published = 5500
Transportation cost = Rs. 82500
Percentage of transportation cost = 10%
Desired profit percentage = 25%
Formula Used:
Total Cost = (Transportation Cost / Percentage of Transportation Cost) × 100
Cost per copy = Total Cost / Number of copies
Selling Price per copy = Cost per copy × (1 + Profit Percentage / 100)
Calculation:
Total Cost = (82500 / 10) × 100 = 8250 × 100 = Rs. 825000
Cost per copy = 825000 / 5500 = Rs. 150
Profit Percentage = 25%
Selling Price per copy = 150 × (1 + 25 / 100)
⇒ Selling Price per copy = 150 × (1 + 0.25)
⇒ Selling Price per copy = 150 × 1.25
⇒ Selling Price per copy = Rs. 187.50
The selling price of the book should be Rs. 187.50 so that the publisher can earn a profit of 25%.
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