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
The cost of an article was Rs 15,500. Rs 450 were spent on its repairs. If it is sold for a profit of 15%, find the selling price of the article
A VCR and TV were bought for Rs 8,000 each. The shopkeeper made a loss of 4% on the VCR and a profit of 8% on the TV. Find the gain or loss percent on the whole transaction.
Jasmine allows 4% discount on the marked price of her goods and still earns a profit of 20%. What is the cost price of a shirt for her marked at Rs 850?
A lady shopkeeper allows her customers 10% discount on the marked price of the goods and still gets a profit of 25%. What is the cost price of a fan for her marked at Rs 1250?
A shopkeeper offers 10% off-season discount to the customers and still makes a profit of 26%. What is the cost price for the shopkeeper on a pair of shoes marked at Rs 1120?
Jyoti and Meena run a ready-made garment shop. They mark the garments at such a price that even after allowing a discount of 12.5%, they make a profit of 10%. Find the marked price of a suit which costs them Rs 1470.
A cycle merchant allows 20% discount on the marked price of the cycles and still makes a profit of 20%. If he gains Rs 360 over the sale of one cycle, find the marked price of the cycle.