Profit and Loss Percent
Profit and Loss Percent
Illustration 1: Rohan sold a book for Rs 60 which he has bought for Rs 50. Find his profit or loss percent
Solution: Cost Price of One book = 50 Rs.
Selling Price of One book = 60 Rs.
As selling price is more than cost price so he is making profit.
Profit = SP -CP = 60- 50 = 10 Rs.
Illustration 2: If the C.P.of 25 chairs is equal to the S.P. of 30 chairs, find the loss percent.
Solution: Let the C.P. of each chair be Rs 1. Then,
C.P. of 30 chairs = Rs 30
It is given that,
S.P. of 30 chairs = C.P. of 25 chairs
S.P. of 30 chairs = Rs 25
Clearly, S.P. < C.P.
So, there is loss given by
Loss = C.P. - S.P.
= Rs(30 - 25)
= Rs 5
Now, Loss % =
Illustration 3: Three items are purchased at Rs 450 each. One of them is sold at a loss of 10%. At what price should the other two be sold so as to gain 20% on the whole transaction? What is the gain % on these two items?
Solution: We have, C.P. of one item = Rs 450
S.P. of three items = Rs(3 X 450)
= Rs 1350
Gain on the whole transaction = 20 % of S.P.
= 20% of Rs 1350
= Rs 270
S.P. of three items = C.P. + Gain
= Rs 1350 + Rs 270
= Rs 1620
It is given that first item is sold at a loss of 10%.
Loss on selling first item = 10% of Rs 450
= Rs 45
S.P. of first item = C.P. - Loss
= Rs 450 - Rs 45
= Rs 405
S.P. of three items is Rs 1620 and the S.P. of first item is Rs 405
S.P. of the remaining two items = Rs 1620 - Rs 405
= Rs 1215
Thus, the other two items should be sold at Rs 1215
C.P. of the remaining two items = Rs(2 X 450) = Rs 900
Gain on the remaining two items = S.P. - C.P
= Rs 1215 - Rs 900
= Rs 315
Gain % on the remaining two items
= 35%
On selling an article for Rs. 240, a trader loses 4%. In order to gain 10%, he must sell that article for ___________ | |||
| Right Option : C | |||
| View Explanation | |||
A bicycle is sold at a profit of 16%. Had it been sold for Rs.10 more, the profit would have been 20% . Its SP is _______________ | |||
| Right Option : D | |||
| View Explanation | |||
An article is sold for Rs 2400 at a profit of 25 %. What would have been the actual profit or loss if it had been sold at Rs 1800? | |||
| Right Option : C | |||
| View Explanation | |||
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