4. Sunil bought one quintal of potatoes for 2000. Later, he sold them all at the rate of 18 per kg. Did he make a profit or incur a loss? How much was it? Show it with the help of an algorithm.
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Answer:
quintal is 100 kg
he bought 100 kg potatoes at 2000
Cost Price of 1 kg Potato = 2000/100 = 20
Selling Price of 100 kg Potatoes = 100 x 18 = 1800
Therefore he made a loss of 200 rupees
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Answer:
Cost price of 1 quintal of onions=Rs.2000
We know that,1 quintal=100kg.
Selling price of 1kg of onions=Rs.18
∴ Selling price of 100kg(or 1 quintal) of onions=18×100=Rs.1800
Since selling price is less than cost price, so there is a loss.
Loss=Cost price−Selling price.
=2000−1800=Rs.200
Hence, Sharad incurred a loss of Rs.200 in this transaction.
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