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Question
Using the figures given below, frame problems based on profit percent or loss percent.
Cost price ₹ 8600, transport charges ₹ 250, porterage ₹ 150, selling price ₹ 10000
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Solution
Problem: Vinay bought a machine from a factory for Rs 8600. He spent Rs 250 on transport and Rs 150 on porterage. If he sold it to a customer for Rs 10000, what was his profit percent or loss percent?
Cost price of machine = ₹ 8600
Money spent on transport = ₹ 250
Money spent on porterage = ₹ 150
Total expenses = cost of machine + transport charges + porterage charges
= 8600 + 250 + 150
= ₹ 9000
That is, total cost price = ₹ 9000
Selling price of the machine = ₹ 10000
Since selling price is more than total cost price, so there is a profit.
Profit = Selling price − total cost price
= 10000 − 9000
= ₹ 1000
Let x % be the Vinay's profit in this transaction. Then,
`"x"/100 = "Profit"/"total cost price" = 1000/9000`
`=> "x"/100 xx 100 = 1000/9000 xx 100`
`=> "x" = 100/9 = 11 1/9`
∴ Vinay made a profit of `11 1/9%` in this transaction.
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