Profit and Loss in Rupees


 
 
Concept Explanation
 

Profit and Loss in Rupees

Profit and Loss in Rupees:

  • Selling Price (SP) = It is the amount at which we are selling a particular thing.
  • Cost Price(CP)= It is the amount at which we are buying a particular thing.
  • Profit: If the Selling price of an article is more than the cost price we are making a profit. It is calculated at the difference of selling price and cost price
  •                            Profit = Selling Price  - Cost Price

  • Loss: If the Selling price of an article is less than the cost price we are making a loss. It is calculated at the difference of cost price and selling price
  •                           Loss = Cost Price  - Selling Price

    For Example:

    Example 1: A sold a house for Rs 49600 which he had bought for Rs 45000. Find his profit or loss. 

    Sol :  Cost Price of house = 45000 Rs.

           Selling Price of house = 49600 Rs.

    As selling price is more than cost price so he is making profit.

    Profit = SP -CP = 49600- 45000 = 4600 Rs.

    Example 2: Suresh bought one dozen oranges at the rate of Rs 6 per orange and sold them at thr rate of Rs 60 per dozen. Find his profit or loss. 

    Sol : Cost of one orange is = 6 Rs.

           Cost Price of One dozen oranges = 6 times 12 = 72 Rs.

           Selling Price of One Dozen Oranges = 60 Rs.

    As selling price is less than cost price so he is making loss.

    Loss = CP -SP = 72-60 = 12 Rs.

    Sample Questions
    (More Questions for each concept available in Login)
    Question : 1

    A merchant buys 30 kg of rice at Rs 40/kg, and another 20 kg of rice at Rs 30/kg. He mixes them and sells half of the mixture at Rs. 36/kg. At what price should he sell the remaining mixture to get an overall profit of 30%?

    Right Option : A
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    Explanation
    Question : 2

    A manufacturer estimates that on inspection 20% of the articles he produces are rejected. He accepts an order to supply 20,000 articles at Rs. 7.50 per item. He estimates the profit on his outlay to be 20 % after providing for the rejects. Find his cost of manufacture per article.

    Right Option : D
    View Explanation
    Explanation
    Question : 3

    If cost price is Rs.230 and selling price is Rs.195, then the Loss is ___________

    Right Option : B
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    Explanation
     
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