A bookseller purchased 11 books for ₹10 and sold all the books at the rate of 10 books for ₹11 Find the profit percent
Answers
In solving this type of problems of Profit and loss , you can suppose any number of books which are purchased and sold at different rates . You can follow algebraic method by taking total number of books as x . In this case it is better to take LCM of 11 ( books the condition mentioned as per the purchase ) and 10 ( books as the condition mentioned as per the sale ) . Clearly , the LCM of 10 and 11 comes 110 . ( See yourself how the calculations become dam easy .) .
Let the total number of books purchased be 110
Cost Price of 11 books is 10 rupees
Cost Price of 1 book will be 10 / 11 rupees
Cost Price of 110 books will be 10 / 11 × 110 = 100 rupees
Sale Price of 10 books is 11 rupees
Sale Price of 1 book will be 11 / 10
Sale Price of 110 books will be 11 / 10 × 110 = 121 rupees
As Sale Price is greater than Cost Price there will be profit which is equal to 121 - 100 = 21 rupees .
As this profit is on the cost price of 100 rupees , the profit will be 21 percent . So the required answer : the profit in the whole deal is 21 % .
Algebraic Method :- Let the total number of books purchased or sold be x
Cost Price of 1 book is 10 / 11 rupees
Cost Price of x number of books will be 10 / 11 × x or 10x / 11 rupees
Similarly , Sale Price of x number of books will be 11x / 10 rupees
Profit = 11x / 10 - 10x / 11 = ( 121 x - 100x ) / 121 or 21x / 110
Profit Percent ( formula ) = Profit / Cost Price × 100
Profit Percent = 21x / 110 ÷ Cost Price × 100
Or Profit Percent : 21x / 110 ÷ 10x / 11 × 100
Or 21x / 110 × 11 / 10x × 100 = 21
Again the required answer : profit 21 % .
Step-by-step explanation:
CP = 11 × ₹10 = ₹110
SP of 10 books = ₹ 110
SP of 1 book = ₹ 11
SP of 11 books = ₹121
Profit = ₹11 ( SP - CP )
Profit% = (profit/cp)×100% = (11/110) × 100% = 10%