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If Ian and Paul bought some bourbon bottles at prices varying from $200 to $250 each and sold at prices varying from $ 300 to $ 350 each. what is the maximum possible gain percent that can be made by selling 15 bottles.

If Ian and Paul bought some bourbon bottles at prices varying from $200 to $250 each and sold at prices varying from $ 300 to $ 350 each. what is the maximum possible gain percent that can be made by selling 15 bottles. Correct Answer 75

Given

Variation in Cost Price (CP) = $200 to $250

Variation in Selling Price (SP) = $300 to $350

Concept / Formula used

(Profit / CP) × 100 = Profit %

Low CP and High SP will give maximum profit

Calculation 

Lowest possible CP = $200

CP of 15 bourbon bottles = 15 × 200 = $3000

Highest possible SP = $350 

SP of 15 bourbon bottles = 350 × 15 = $5250

Maximum possible profit % = (5250 - 3000) ×100 / 3000 = 75%

∴ Ian and Paul can have maximum 75% profit on selling 15 bottles.

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