A trader bought 80 pencils at Rs. 6 each and sold them at Rs. 8 each. Find total profit.
Explanation
To find the total profit, first, we need to find the total cost price and the total selling price. The total cost price is 80 pencils × Rs. 6 = Rs. 480. The total selling price is 80 pencils × Rs. 8 = Rs. 640. The profit is the difference between the total selling price and the total cost price, which is Rs. 640 - Rs. 480 = Rs. 160. However, the question asks for the total profit, which is the profit per pencil multiplied by the number of pencils. The profit per pencil is Rs. 8 - Rs. 6 = Rs. 2. Therefore, the total profit is 80 pencils × Rs. 2 = Rs. 160.
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