A shopkeeper sells the rubber bands at 5 for a rupee gaining 40%. How many did he buy for a rupee?

Solution:SP for 5 bands=Rs. 1SP of 1 band=Rs. 15=Rs. 0.2Still profit%=40%Profit%=SP-CPCP×10040100=0.2CP-11+40100=0.2CP1.4=0.2CPCP=0.21.4=Rs. 17So, CP of 1 pen=Rs. 17So, for Rs. 1, he can buy 7 pens

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