A shopkeeper bought 20 items at $15 each and sold them at $20 each. What is the

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Question: A shopkeeper bought 20 items at $15 each and sold them at $20 each. What is the total profit made?

Options:

Correct Answer: $50

Solution:

Total Cost = 20 * 15 = $300. Total Selling Price = 20 * 20 = $400. Profit = Selling Price - Cost = 400 - 300 = $100.

A shopkeeper bought 20 items at $15 each and sold them at $20 each. What is the total profit made?

A shopkeeper bought 20 items at $15 each and sold them at $20 each. What is the total profit made?

Step 1: Calculate the total cost of the items. Multiply the number of items (20) by the cost per item ($15).
Step 2: Total Cost = 20 * 15 = $300.
Step 3: Calculate the total selling price of the items. Multiply the number of items (20) by the selling price per item ($20).
Step 4: Total Selling Price = 20 * 20 = $400.
Step 5: Calculate the profit by subtracting the total cost from the total selling price.
Step 6: Profit = Total Selling Price - Total Cost = 400 - 300 = $100.

Cost Calculation – Understanding how to calculate total cost by multiplying the number of items by the cost per item.
Selling Price Calculation – Understanding how to calculate total selling price by multiplying the number of items by the selling price per item.
Profit Calculation – Understanding how to determine profit by subtracting total cost from total selling price.