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A seller sells 10 clips for a rupee and makes a profit of 20%. How many clips did he buy for one rupee?

A seller sells 10 clips for a rupee and makes a profit of 20%. How many clips did he buy for one rupee? Correct Answer 12

Given:

Number of clips sold by seller in Re. 1 = 10 clips

Profit% = 20%

Formula Used:

Selling Price = Cost Price (1 + profit%/100)

Calculation:

Let the cost price of 1 clip be Rs. x

According to the question 

Selling price of 10 clips = Re. 1

⇒ Selling price of 1 clip = Rs. 1/10 

Now, According to the question 

1/10 = x (1 + 20/100)

⇒ 1/10 = x × 6/5

⇒ x = 1/10 × 5/6

⇒ x = 1/12

So, we can write

In Rs. 1/12 we can purchase 1 clip 

∴ In Re. 1 we can purchase 12 clips.

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