A trader paid 1500 for 6 drinking cups. one of the cups got broken. he sold the remaining five, making a profit of 10percent calculates the cost of each of the six cups

Cost price of each cup = 1500/6 = 250

Selling price of each cup = 1650/5 = 330

Step-by-step explanation:

Cost price of cups = 1500

Profit = 10%

Selling price of cups = ?

Profit and loss percentage are calculated based on cost price and the formula to calculate profit is mentioned as under:

Profit percentage (%) = Profit x 100/Cost price

10 = Profit x 100/1500

⇒ Profit = 10 x 1500/100

⇒ Profit = 150

The formula for finding selling price is mentioned as under:

Selling Price = Profit + Cost Price.

Selling Price = 150 + 1500

⇒ Selling Price = 1650.

Since one of the six cups was broken that means the seller earned profit based on only 5 cups, it implies that selling price of each cup will be 1650/5 = 330.