Question

A florist sells 300 flowers at a profit of 15%. If one flower costs him Rs. 5, find the selling price of the flowers.

Answer 1

Hint: To solve this question, we will find the cost of the whole batch of 300 flowers based on the information given to us. Then we will find 15% of the total cost price by the equation of profit percent given by $\dfrac{pp}{100}\times cp=p$, where pp is the profit percentage, cp is the cost price and p is the profit. We will then add profit to the cost price to get the selling price of the product

Complete step-by-step answer:
Cost price of the whole batch of flowers will be the product of the cost price of one flower and number of flowers in the batch.
From the given information, we know that the batch has 300 flowers and each flower costs the florist Rs. 5. Therefore, cost price of the whole batch of 300 flowers will
300(5) = Rs. 1500
Thus, the cost price of the batch is Rs. 1500.
The profit in Rs will be $\dfrac{pp}{100}\times cp$, where pp is the profit percentage and cp is the cost price.
We will substitute pp = 15 and cp = 1500.
$\dfrac{15}{100}\times 1500=225$
Thus, the profit made by the florist is Rs. 225.
The selling price of a product is the sum of the cost price and the profit. We deduced that the cost price is Rs. 1500 and profit is Rs. 225.
Therefore, selling price = 1500 + 225 = 1725.
Hence, the selling price of 300 flowers, each costing Rs. 5, at 15% profit is Rs 1725.

Note: Prerequisites for this question are basic concepts of profit and loss. Good practise in the concepts of percentage majorly reduces the time required to solve this question. Students are advised to be careful while solving for 15% of the cost price.