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A vendor sold 18 pens for ₹1,440 and gained a profit of 20%. How many pens must he sell for ₹1,408 to make a profit of 12% (to the nearest integer)?
- 17
- 18
- 19
- 20
Correct answer: 19
Solution
From 18 pens sold for ₹1,440 at 20% profit, the cost price of 18 pens is ₹1,440/1.2 = ₹1,200. So cost price per pen = ₹1,200/18 = ₹66.67. For a 12% profit on ₹1,408, the required cost price is ₹1,408/1.12 = ₹1,257.14, so number of pens = 1,257.14/66.67 ≈ 18.86, i.e. 19 pens.
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