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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?

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#### 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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