Certain books are bought at prices ranging from ₹ 400 to ₹ 500 per book and…
2023
Certain books are bought at prices ranging from ₹ 400 to ₹ 500 per book and are sold at prices ranging from ₹ 500 to ₹ 700 per book. Find the greatest possible profit that might be made in selling 10 books.
- A.
₹ 4000
- B.
₹ 3000
- C.
₹ 3800
- D.
₹ 7000
Attempted by 5 students.
Show answer & explanation
Correct answer: B
To find the greatest possible profit, subtract the minimum cost price from the maximum selling price per book. The minimum cost is ₹ 400 and the maximum selling price is ₹ 700, resulting in a profit of ₹ 300 per book. Multiplying this unit profit by the quantity of 10 books yields a total maximum profit of ₹ 3000.