What is the percentage of profit when there is a profit which is equal to selling price of 8 compass boxes, after selling 48 boxes

It is example of profit and loss. We have to find profit %.
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1 Answer

If c is the selling price of the compass box then

revenue=48c. Profit=revenue-cost; 8c=48c-cost, so cost is 40c.

Profit=(selling price)/(cost price)=48c/40c-1=6/5-1=1/5=20%.
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