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Question
Ramrao bought a cupboard for Rs 4500 and sold it for Rs 4950. Shamrao bought a sewing machine for Rs 3500 and sold it for Rs 3920. Whose transaction was more profitable?
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Solution
Cost price of a cupboard = Rs 4500
Selling price of a cupboard = Rs 4950
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 4950 − 4500
= Rs 450
So, Ramrao made a profit of Rs 450 in this transaction.
Cost price of a sewing machine = Rs 3500
Selling price of a sewing machine = Rs 3920
Since selling price is more than cost price, so there is a profit.
Profit = Selling Price − Cost Price
= 3920 − 3500
= Rs 420
So, Shamrao made a profit of Rs 420 in this transaction.
Let x % be the Ramrao's profit and y % be the Shamrao's profit. Then,
`"x"/100 = "Profit"/"cost price" = 450/4500` and
`"y"/100 = "Profit"/"cost price" = 420/3500`
`=> "x"/100 xx 100 = 450/4500 xx 100` and
`"y"/100 xx 100 = 420/3500 xx 100`
⇒ x = 10 and y = 12
So, Ramrao made a profit of 10% on a cupboard and Shamrao made a profit of 12% on a sewing machine.
∴ Shamrao's transaction was more profitable.
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