Ramees bought 4 dozen apples at Rs. 12 per dozen and 2 dozen at Rs. 16 per dozen. Re-selling the lot for a 20% overall profit, what was his selling price per dozen?
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Answer: B. Rs. 16.00
Explanation
Calculating the cost for four dozen apples at twelve per dozen gives forty-eight, and two dozen at sixteen gives thirty-two. The total combined cost for all six dozen apples equals eighty, to which a twenty-twenty percent profit markup is added to reach ninety-six. Dividing the total selling price of ninety-six by the total quantity of six dozen yields a rate of sixteen per dozen. Weighted average cost calculations are essential when combining inventory items purchased at different unit price points. Profit percentage is calculated as a fraction of the total cost price and added to determine the final target revenue. Unit pricing requires dividing the gross target revenue by the total volume of goods sold.
Option A results in insufficient total revenue to cover the weighted cost plus the required twenty percent profit. Option C yields a profit margin higher than the specified twenty percent target requirement. Option D overprices the merchandise well beyond the necessary markup calculation for the given inventory.
- Subject
- Mathematics
- Category
- Mathematics
- Topic
- —
- Difficulty
- medium
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