Question

A trader paid $15 for 6 drinking cups. One of the cups got broken. He sold the remaining 5 , making a profit of 10%, Calculate

The cost price of each of the cups,
The selling price of each of the five cups,
The profit made one each cup.

Answer 1

Cost Price: $2.50

Selling Price: $3.30

Profit per Cup: $0.80

Explanation:

Cost Price:

$15/6 cups = $2.50 per cup

Selling Price:

10% profit means he had to sell the remaining cups for 1.1 * $15

So he sold them for $16.50

$16.50 / 5 cups remaining = $3.30 per cup

Profit per Cup:

3.30 - 2.5 = $0.80