21. A shopkeeper sold two items for 9975
each. He sold one at a gain of 5% and
other at a loss of 5 %. Find his gain or loss.
Answers
His loss is ₹50
Step-by-step explanation:
GIVEN
Selling Price = 9975
Gain Percent = 5%
Loss Percent = 5 %
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TO FIND
His gain or loss
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We know that,
Cost Price = ( 9975 × 100 ) / ( 100 + 5 )
Cost Price = ( Selling Price × 100 ) / ( 100 + Profit Percent )
Cost Price = 997500 / 105
Cost Price = 9500
Cost Price = ₹9500
Cost price of first time which he sold at a profit of 5% is ₹9500
We know that,
Profit = Selling Price - Cost Price
Profit = 9975 - 9500
Profit = 475
Profit = ₹475
Profit on first item is ₹475
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We know that,
Cost Price = ( Selling Price × 100 ) / ( 100 - Loss Percent )
Cost Price = ( 9975 × 100 ) / ( 100 - 5 )
Cost Price = 997500 / 95
Cost Price = 10500
Cost Price = ₹10500
Cost Price of second time which he sold at a loss of 5% is ₹10500
We know that,
Loss = Cost Price - Selling Price
Loss = 10500 - 9975
Loss = 525
Loss = ₹525
Loss on second item is ₹525
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We know that,
Profit = Selling Price - Cost Price
Loss = Cost Price - Selling Price
Loss on second item is more than profit on first item
Therefore,
He has loss
We know that,
Loss = Loss on second item - Profit on first item
Loss = 525 - 475
Loss = 50
Loss = ₹50
His loss is ₹50
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IMPORTANT
If the profit percent is given and we have to find the selling price
Then
Selling Price = ( 100 + Profit% ) × Cost Price / 100
If the loss percent is given and we have to find the selling price
Then
Selling Price = ( 100 - Loss% ) × Cost Price / 100
When selling price and loss percent is give and we have to find the cost price