Finding Selling Price
Finding Selling Price
To Find Selling Price when Profit/Loss percent is given: To find the selling price we will first find the Profit/Loss on the cost price, and will then find the Selling Price.
Selling Price = Cost Price + Profit
Selling Price = Cost Price- Loss
Illustration 1: Mr. Kumar Bought a car at Rs 5500 and sold it at a profit of 10% find the Selling Price of the car?
Solution: Cost Price of the car = Rs. 5500
Profit % = 10%
Profit = 10 % of 5500
Selling Price of the Car = 5500 + 550 = Rs. 6050
Illustration 2: A man buys a plot of agricultural land for Rs 300000. He sells one-third at a loss of 20%. and two-fifths at a gain of 25%. At what price must he sell the remaining land so as to make an overall profit of 10%.
Solution: We have,
C.P of the entire land = Rs 300000
Proposed overall profit = 10% of Rs 300000
So, Proposed S.P. = Rs (300000 + 30000) = Rs 330000
Now, C.P. of one-third land
Loss = 20% of Rs 110000
So, S.P. = C.P. - Loss
= Rs (110000 - 22000)
= Rs 88000
C.P. of two-fifths land
Gain = 25% of Rs 132000
So, S.P. = C.P. + Gain
= Rs (132000+33000)
= Rs 165000
Total S.P. of two parts of the land sold = Rs (88000 + 165000)
= Rs 253000
So, S.P. of the remaining land = Rs(300000 - 253000)
= Rs 47000
_____________ price is the price at which the article is sold. | |||
| Right Option : B | |||
| View Explanation | |||
A TV was bought for Rs 18,950 and old at a loss of Rs 4780. Find the selling price. | |||
| Right Option : D | |||
| View Explanation | |||
A man buys an old car for Rs. 55000 and sells it at a gain of 3%. If his overhead expenses are 1%, he sold the car for ___________ | |||
| Right Option : A | |||
| View Explanation | |||
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