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Profit and Loss

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  1. A vender sells lemons at the rate of 5 for ₹ 14. gaining thereby 40%. For how much did he buy a dozen lemon ?
    1. ₹ 20
    2. ₹ 21
    3. ₹ 24
    4. ₹ 28
Correct Option: C

SP of 1 lemon = ₹ 14/5
Let CP of 1 lemon = N
According to the question, (N x 140)/100 = 14/5
∴ N = ₹ 2
∴ CP for 12 lemons = 12 x 2 = 24


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