Question

Amit buys \[5\] watches for \[Rs.9450\] and later sells them for \[Rs.9700\] . How much profit does Amit make per watch?
A. \[Rs.75\]
B. \[Rs.80\]
C. \[Rs.60\]
D. \[Rs.50\]

Answer 1

Hint: Here, we have to convert this word problem into mathematical expression. In this problem, a person buys watches for \[Rs.9450\] and sells it later for \[Rs.9700\] .So, we use a profit-loss formula to calculate profit made per watch. The formula is \[Profit = S.P - C.P\] . The Profit and Loss formula is used in mathematics to determine the price of a commodity in the market and understand how profitable a business is. Every product has a cost price and selling price. Based on the values of these prices, we can calculate the profit gained or the loss incurred for a particular product.

Complete step-by-step answer:
In the given problem,
Ami buy \[5\] watches for \[Rs.9450\] .
Sell them for \[Rs.9700\]
To calculate profit make per watch from the formula is given by \[Profit = S.P - C.P\] .
 \[Profit = S.P - C.P\]
Where \[S.P - \] selling price, \[C.P - \] Cost price
To finding the profit of \[5\] watches by substitute all the values in the profit formula, we get
 \[Profit = 9700 - 9450 = 250\]
But, in this problem we need to calculate profit of a watch, we get
Profit of a watch \[ = \dfrac{{profit}}{{No.of.watch}} = \dfrac{{250}}{5} = 50\]
Therefore, Amit makes profit of per watch is \[50\] rupees
The final answer is option (D) \[Rs.50\]
So, the correct answer is “OPTION D”.

Note: Profit is the amount gained by selling a product with more than its cost price. The amount paid for a product or commodity to purchase it is called a cost price. Also, denoted as CP. The amount for which the product is sold is called Selling Price. It is usually denoted as SP. Also, sometimes called a sale price.