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Prices Related to Buying and Selling (Profit and Loss)

I will spend Rs. 3 on pen and Rs. 2 on paper. So my expenditure is Rs. 5. This gives me a profit of Rs. 3 which is
Sometimes when an article is bought, some additional expenses are made while buying or before selling it. These expenses have to be included in the cost price. These expenses are sometimes referred to as overhead charges. These may include expenses like amount spent on repairs, labour charges, transportation etc.
 

Finding Cost Price / Selling Price, Profit%, Loss%
 

Example

Karthick bought a second hand car for Rs. 1,75,000 then spent Rs. 25000 on its repairs and sold it for Rs. 2,10,000.Find his loss or gain percent.

Solution

Cost Price = Rs. 1,75000 + Rs. 25000
              = 2,00,000
Sale price = 2,10,000.
SP > CP. He made profit = Rs. 2,10,000 - 2,00,000 = Rs. 10,000.
His profit on Rs 2,00,000 is Rs. 10,000. How much would be his profit on Rs. 100?


 

Example

A shopkeeper purchased 200 dolls for Rs. 5 each. However 20 dolls are broken and had to be thrown away. The remaining were sold at Rs. 8 each. Find the gain or loss%.

Solution

Cost price of 200 dolls = Rs. 200 × 5 = Rs. 1000

20 dolls were broken.

Number of dolls left = 200 - 20 = 180

These were sold at Rs. 8 each.

The SP of 180 dolls = Rs 180 × 8 = Rs. 1440

He made a profit (as SP > CP)

Profit = Rs (1440 - 1000) = Rs. 440

On Rs. 1000, the profit is Rs.440 How much profit is made in Rs. 100?


 

Example

Radha bought two shirts for Rs. 1500 each. She sold one at a loss 5% and the other at a profit of 10%. Find the selling price of each. Also find out the total profit or loss?

Solution

Overall CP of each shirt = Rs. 1500
First shirt was sold at a loss of 5%.
If CP is Rs. 100, SP is 95.

When CP is Rs. 1500, then

Second shirt is sold at a profit of 10%.
CP is Rs. 100, SP is 110.

When CP is 1500, then

Total CP = Rs. 1500 + Rs. 1500 = Rs. 3000
Total SP = Rs. 1425 + Rs. 1650 = Rs. 3075
Total SP > Total CP, a profit of Rs(3075 - 3000) = Rs. 75 has been made.


 
 




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