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Question
A manufacturer makes 800 straws at a cost of 50 paise per straw. He fixes the selling price such that if only 640 straws are sold, he would make a profit of 50% on his outlay. Find his actual profit or loss percent, if he sells 720 straws.
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Solution
C.P. of 800 straw at the rate of 50 paise per straw
= Rs. `(50/100 xx 800)`
= Rs.400
Since profit is 50% of his outlay when only 640 articles are sold,
∴ S.P. of 640 straws
= `(1 + 50/100)` of Rs. 400
= `(150/100)` x Rs.400
= Rs.600
∴ S.P. of each article
= Rs. `(600)/(640)`
= Rs.`(15)/(16)`
∴ S.P. of 720 straws
= Rs. `(720 xx 15/16)`
= Rs.675
∴ Actual profit
= Rs.675 - Rs.400
= Rs.275
∴ Actual profit %
= `("Profit"/"C.P." xx 100)%`
= `(275/400 xx 100)%`
= 68.75%.
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