Question

A shopkeeper buys a packet of wafers at Rs. 64 per packet. He spends Rs. 4 on transport of 4 packets. At what price should he sell the packet to gain 16%?

Answer 1

Hint: Start by finding the cost price of the cost price of the wafers by adding the cost of each packet with the transport cost of each packet. It is given that the cost of each packet is Rs. 64 and it is given that the cost of transport of 4 packets is Rs. 4 which indicates that the cost of transport on each pack is Rs. 1. Once you get the CP add 16% of CP to itself to get the selling price.

Complete step-by-step answer:
Let us start by finding the cost price of the wafers. We know that the cost of each packet added with the transport cost of each packet. It is given that the cost of one pack of wafers is Rs. 64. Also, it is given that the cost of transport of 4 packs is Rs. 4, which implies that the cost of transport of each pack is Rs. 1. So, the total cost price of each pack is:
$\text{Cost price}=\text{cost of each pack}+\text{transport cost}$
$\Rightarrow CP=64+1=Rs.65$
Now let us find the selling price of the wafers. It is given that the gain by selling a pack of wafers must be 16%.
$\text{CP+ }\dfrac{16}{100}\times CP=SP$
Now we will put the value of cost price as we found in the above result. On doing so, we get
$\text{65+ }\dfrac{16}{100}\times 65=SP$
$\Rightarrow \text{65+ 10}\text{.4}=SP$
$\Rightarrow SP=Rs.\text{ }75.4$
Therefore, the answer to the above question is Rs. 75.4.

Note: Don’t be in a hurry and take the cost of transport of each pack of wafer to be Rs.4, it is clearly given in the question that the cost of transport of 4 packs of wafer is Rs. 4. Also, be careful in the calculation part, as decimal calculations are complex and may lead to errors.