Saritaben bought 18 chairs each at Rs. 700 and sold them all for Rs. 18900. What was the percentage of her profit or loss? - Mathematics

Sum

Saritaben bought 18 chairs each at Rs. 700 and sold them all for Rs. 18900. What was the percentage of her profit or loss?

Solution

Cost price of one chair Rs. 700.
∴ Cost price of 18 chairs = 700 × 18 = Rs. 12600.

Total selling price of all chairs, Rs. 18900.
Selling price more than cost price.
Therefore,
Profit = Selling price - Cost price
= 18900 - 12600
= 6300

Saritaben made a profit of Rs. 6300.

Supposing profit was N%.

"N"/100 = 6300/12600

∴ "N"/100 xx 100 = 63/126 xx 100

∴ N = (63 xx 100)/126

∴ N = 50

∴ Profit was 50%.

Concept: Profit or Loss as a Percentage
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