If books bought at prices ranging from Rs.150 to Rs.300 are sold at prices ranging from Rs.250 to Rs.350, what is the greatest possible profit that might be made in selling 15 books?
If books bought at prices ranging from Rs.150 to Rs.300 are sold at prices ranging from Rs.250 to Rs.350, what is the greatest possible profit that might be made in selling 15 books?
(A) Rs.2000
(B) Rs.2500
(C) Rs.3000
(D) Rs.3500
Solution: In order to maximize our profit, we use:
The lowest purchase price, which is Rs. 150.
The highest selling price, which is Rs. 350.
Profit earned on each book = Selling price - Purchase price = 350 - 150 = Rs. 200.