Question

a man brother an article for $5000, spent $300 on it's carriage ,and $200 on octroi duty.if he sells the article for $6000, find his profit or loss per cent. If he desires to make a profit of 20%,at what price should he sell it? Also, find his selling price when he loss 10%.

Answer 1

The total cost of the article :

5000 + 200 + 300 = 5500

= 5500

Profit :

6000 - 5500 = 500

500/5500 × 100 = 9.9%

If he desires to make a profit of 20%, the selling price will be :

120/100 × 5500 = $ 6600

Selling price when the loss is 10%

90/100 × 5500 = 4950

$ 4950