Question

1Find the gain or loss percent when :

(a) C.P=620 and S.P =713​

Answer 1

Given,

Cost price = 620 Rs

Selling price = 713

We know,

There will be a profit as the profit is more than the loss,

So we have,

Profit = Selling price - Cost price

= 713 - 620

= 93 Rs

Now we also know,

Profit % = Profit/Cost price*100

= 93/620*100

= 0.15*100

= 15%

So the net profit after selling the product is 15%.

In these problems just with a simple interpretation, you can solve more complicated problems.

There is no need for any special formulas for these questions.

Answer 2

CP=620

SP=713

Profit =713-620

=93

Profit percentage=93/620×100

=15%