Question

A dealer purchased 100 quintals of wheat at 550 a quintal. He spent 10000 on
transportation and storage. He then sold the wheat at 6.50 per kg. Find his profit
or loss.​

Answer 1

➤ Given :-

Total amount of wheat brought :- 100 quintals

Cost price of 1 quintals of wheat :- ₹550

Selling price of each kg of wheat :- ₹6.50

Money spent on transportation:- ₹10000

➤ To Find :-

His total profit or loss

How to do :-

Here, we are given that a dealer had bought 100 quintals i.e, 10000 kilograms for 550 rupees per quintal i.e, 100 kilograms. And he spent 10000 rupees for transportation and storage. So, first we should find the total cost price by adding the old cost price and the cost spent on extra and also, we should find the total selling price and then we can find if there is a loss or a profit.

➤ Solution :-

Total cost price :-

${\tt \longrightarrow 10000 + \bigg( \bigg\{ \dfrac{550}{100} \bigg\} \times \bigg\{ 100 \times 100 \bigg\} \bigg)}$

${\tt \longrightarrow 10000 + \bigg( 5.5 \times 10000 \bigg)}$

${\tt \longrightarrow 10000 + 55000}$

${\tt \longrightarrow Rs \: \: 65000}$

Total selling price :-

${\tt \longrightarrow 6.50 \times 10000}$

${\tt \longrightarrow Rs \: \: 65000}$

Now,

Here, we can observe that the cost price and selling price are equal to each other.

${\:}$

$\Huge\therefore$ The dealer had not obrained with profit nor loss.

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$\dashrightarrow$ Some related formulas :-

Profit :- ${\boxed{\tt SP-CP}}$

Loss :- ${\boxed{\tt CP-SP}}$

Profit percentage :- ${\boxed{\tt\dfrac{Profit}{CP} \times 100}}$

Loss percentage :- ${\boxed{\tt\dfrac{Loss}{CP} \times 100}}$

Cost price :- ${\boxed{\tt\dfrac{100}{(100 + Profit \bf\%} \times SP}}$

Selling price :- ${\boxed{\tt\dfrac{(100 + Profit \bf\%)}{100} \times CP}}$

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More to know :-

• Cost price is the amount at which the item is brought for.
• Selling price is the amount at which the item is sold for.
• Profit is obtained when the selling price is greater than the cost price.
• Loss is obtained when the cost price is greater than the selling price.