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