Example: Sohan bought a second hand refrigerator for Rs. 2,500, then spent Rs. 500 on its repairs and sold it for Rs. 3,300. Find his loss or gain per cent.
Solution: Cost Price (CP) = Rs. 2500 + Rs. 500 (overhead expenses are added to give CP)
= Rs. 3000
Sale Price (SP) = Rs. 3300
As SP > CP, he made a profit = Rs. 3300 – Rs. 3000 = Rs. 300
His profit on Rs. 3,000, is Rs. 300. How much would be his profit on Rs.100?
Profit =`300 / 3000 xx 100 % = 30/3 % = 10 %`
|`P% = P/(CP) xx 100%`|
Shaalaa.com | Cost Price and Selling Price
Ramesh bought two boxes for Rs 1300. He sold one box at a profit of 20% and the other box at a loss of 12%. If the selling price of both boxes is the same, find the cost price of each box.
If the cost price of 18 chairs be equal to selling price of 16 chairs, find the gain or loss percent.
Ravish sold his motorcycle to Vineet at a loss of 28%. Vineet spent Rs 1680 on its repairs and sold the motor cycle to Rahul for Rs 35910, thereby making a profit of 12.5%, find the cost price of the motor cycle for Ravish.