Profit and Loss Examples 1

In this class, We discuss Profit and Loss Examples 1.

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Example 1:

A person incurs a 5% loss by selling a watch for Rs 1140.

At what price should the watch be sold to earn a 5% profit?

Solution:

Selling price= 1140

Loss percentage = 5%

SP = ((100 – loss%)/100)* CP

1140 = ((100 – 5)/100)* CP

1140 = (95/100) * CP

CP = (1140 * 100)/95

CP = 1200

Sell the item for a five percent profit.

SP = 105/100 * CP

SP = 105/100 * 1200

SP = 1260

Example 2:

By selling 33 meters of cloth, one gains the selling price of 11 meters.

Find the gain percent.

Solution:

Gain = (selling price of 33m) – (cost price of 33m)

The selling price of 11 meters = (selling price of 33m) – (cost price of 33m)

The selling price of 22 meters = Cost price of 33m

Let the cost price of 1 meter = 1 rupee.

The cost price of 22m = 22

The selling price of 22m = 33

Gain = 33 – 22 = 11

Gain% = (11/22) * 100 = 50%

Example 3:

A man bought a horse and a carriage for Rs 3000.

He sold the horse at a gain of 20% and the carriage at a loss of 10%, thereby gaining 2% on the whole.

Find the cost of the horse.

Solution:

Let the cost of the horse = x

CP of carriage = 3000-x

(20% of x) – (10% of 3000-x) = (2% of 3000)

(20/100 * x) – (10/100 * (3000-x)) = 2/100 * 3000

(x/5) – ((3000-x)/10) = 60

3x = 3600

x = 1200

CP of horse = 1200