Question

a mechanic bought an old cycle for ₹500 and spent ₹750 on extra fitting and other spares.he expected ₹1500 but sold it for ₹1400 .find the expected profit percentage and the actual profit percentage .solve this by steps

Answer 1

CP of mechanic cycle = 500
Money spent on repairing = 750
total CP = (500+750) = 1250
expected SP = 1500
profit for expected SP = 1500-1250 =250
Profit % = (250/1250×100)
=> 20%
Actual SP = 1400
profit for actual SP = 1400-1250 = 150
Profit % = (150/1250×100) %
=> (15000/1250)%
=> 12%
hence the required :-
Expected profit % is 20 %
and the actual profit% is 12% .