Question

A book costing Rs 450 is sold for RS 525. Find profit or loss

Answer 1

Answer:

profit = Rs 75

Step-by-step explanation:

cp = 450

sp = 525

since sp > cp there isd profit

so, profit = sp - cp = 525 - 450 = 75

profit % = (profit / cp ) x 100

profit % = (75 / 450) x 100 = 50/3 % = 16.66 %

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Answer 2

The profit is Rs. 75 and the profit percentage is 16.67%.

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Let's understand a few concepts:

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.

How to calculate the profit/loss percentage?

We will use the following formula to calculate the profit/loss percentage:

$\boxed{\bold{Profit\% = \frac{S.P. - C.P.}{C.P.} \times 100}}$

$\boxed{\bold{Loss\% = \frac{C.P. - S.P.}{C.P.} \times 100}}$

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Let's solve the given problem:

The cost price of the book = Rs. 450

The selling price of the book = Rs. 525

We can see that S.P. of the book > C.P. of the book

∴ there will be a profit in the transaction

∴ The amount of profit earned = S.P. - C.P. = Rs. 525 - Rs. 450 = Rs. 75

Now, by using the above formula of profit percentage, we get,

The profit percentage incurred in the whole transaction is,

= $\frac{75}{450} \times 100$

= $\frac{15}{9} \times 10$

= $\frac{5}{3} \times 10$

= $\bold{16.67\%}$

Thus, the profit is Rs. 75 and the profit percentage is 16.67%.

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