1.

Find the profit or loss in the following transactions. Also find profit percent orloss percent in each case. i) A cycle bought for ₹800 and is sold for ₹900. ii) A shirt bought for ₹120 and is sold for ₹100.​

Answer»

Before, finding the ANSWER. Let's FIND out on how we can find the answer.

  • To find the Profit, we MUST subtract both Selling Price and Cost Price.

\boxed{ \sf Profit = S.P- C.P}

  • To find the Loss, we must subtract both Cost Price and Selling Price.

\boxed{\sf Loss = C.P - S.P}

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Now, the formula for Percent when Profit or Loss is GIVEN :

\boxed{\sf Profit \: or \: Loss \% = \frac{Profit/Loss}{Cost Price} \times 100 }

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Given :

  • Cost Price = ₹800
  • Selling Price = ₹900

To find :

  • Profit or Loss
  • Profit or Loss Percent

Solution :

SINCE, S.P > C.P, therefore here is profit.

∴ Profit = S.P. - C.P.

            = Rs.900 - Rs. 800

            = Rs.100

Profit Percent = \sf \dfrac{Profit}{Cost Price} \times 100

                       = \sf \dfrac{100}{800} \times 100

                       = \sf \dfrac{10000}{800}

                       = 12.5 %

Therefore,

  • Profit is Rs.100
  • Profit Percent is 12.5 %.

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Given :

  • Cost Price = ₹120
  • Selling Price = ₹100

To find :

  • Profit or Loss
  • Profit or Loss Percent

Solution :

Since, C.P > S.P, therefore here is loss.

∴ Loss = C.P. - C=S.P.

            = Rs.100 - Rs.120

            = Rs.20

Loss Percent = \sf \dfrac{Loss}{Cost Price} \times 100

                      = \sf \dfrac{20}{120} \times 100

                      = \sf \dfrac{2000}{120}

                      = 16.6%

Therefore,

  • Loss is Rs.20
  • Loss Percent is 16.6 %.



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