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If watches bought at prices ranging from $Rs.200$ to $Rs.350$ are sold at prices ranging from $Rs.300$ to $Rs.425$ , what is the greatest possible profit that might be made in selling nine watches?

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Last updated date: 22nd Jul 2024
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Answer
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Hint: We have to first examine the minimum cost price of one watch which is $Rs.200$ . After that, we find the minimum cost price of nine watches by multiplying by nine. Similarly, we have to examine the maximum selling price of one watch which is $Rs.425$ . After that, we find the maximum selling price of nine watches by multiplying by nine. The final answer is found by evaluating $\left( 425\times 9 \right)-\left( 200\times 9 \right)$.

Complete step-by-step solution:
We are given that the cost price of the watches ranges from $Rs.200$ to $Rs.350$ and the selling price of the watches ranges from $Rs.300$ to $Rs.425$ . We have to determine the greatest possible profit made in selling nine watches.
For maximum profit, the cost price should be minimum and the selling price should be maximum as profit is calculated by subtracting cost price from selling price.
The least possible cost price of one watch is $Rs.200$ . Then, we will multiply $9$ by $200$ to find the least cost price of nine watches.
$200\times 9=1800$
Similarly, the maximum selling price of one watch can be $Rs.425$ . Then, we will multiply $9$ by $425$ to find the highest selling price of nine watches.
$425\times 9=3825$
Now, it is known that profit can be calculated by subtracting cost price from selling price. Hence, maximum profit possible by selling nine watches is $3825-1800=2025$ .
Thus, the maximum profit is $Rs.2025$ .

Note: We can also solve this question by first calculating the maximum profit on selling one watch, which is $425-200=225$ . We then multiply it with $9$ to get the profit from nine watches which is $225\times 9=2025$ .