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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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| 4500 | 5000 |
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Sonia and Rahul have different ways of calculating the sale price for the items they bought.
As you work on the next problem, try both of these methods to see which you prefer.
A store is having a 25% discount sale. Sheela has a Rs 50 gift voucher and wants to use it to buy a board game marked for Rs 320. She is not sure how to calculate the concession she will get. The sales clerk has suggested two ways to calculate the amount payable.
- Method 1: Subtract Rs 50 from the price and take 25% off the resulting price.
- Method 2: Take 25% off the original price and then subtract Rs 50.
For each method, calculate the amount Sheela would have to pay. Show your work.
A store is having a 25% discount sale. Sheela has a Rs 50 gift voucher and wants to use it to buy a board game marked for Rs 320. She is not sure how to calculate the concession she will get. The sales clerk has suggested two ways to calculate the amount payable.
- Method 1: Subtract Rs 50 from the price and take 25% off the resulting price.
Which method do you think stores actually use? Why?
