If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices…

2023

If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?

  1. A.

    1800

  2. B.

    1890

  3. C.

    5678

  4. D.

    4568

Attempted by 1 students.

Show answer & explanation

Correct answer: A

Step-by-Step Solution

To find the greatest possible profit, we need to maximize the revenue while minimizing the costs for the given quantity of items.

  1. Understand the Goal:

    • Maximize profit = (Maximum Selling Price) - (Minimum Cost Price).

    • We are selling 8 books.

  2. Determine the Minimum Cost Price (CP):

    • The cost price ranges from Rs. 200 to Rs. 350.

    • The minimum cost for one book is Rs. 200.

    • Minimum cost for 8 books = 8 * 200 = Rs. 1600.

  3. Determine the Maximum Selling Price (SP):

    • The selling price ranges from Rs. 300 to Rs. 425.

    • The maximum selling price for one book is Rs. 425.

    • Maximum revenue for 8 books = 8 * 425 = Rs. 3400.

  4. Calculate the Greatest Profit:

    • Greatest Profit = Maximum Total Revenue - Minimum Total Cost

    • Greatest Profit = 3400 - 1600 = Rs. 1800.

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