A shopkeeper buys a book for ₹250 and sells it at a profit of 20%. A customer buys 3 such books. How much does the customer pay in total, in ₹?
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Step-by-Step Solution
Step 1: Calculate the profit amount
First, we need to find out how much profit the shopkeeper makes on one book. The profit is calculated as a percentage of the cost price. Here, the cost price is ₹250 and the profit percentage is 20%.
Step 2: Calculate the selling price of one book
Once we know the profit amount, we can find the selling price of one book. The selling price is the cost price plus the profit earned on it.
Step 3: Calculate the total cost for 3 books
The customer buys 3 such books. To find the total amount the customer pays, we multiply the selling price of one book by the number of books purchased.