Question

A second hand Tv is for Rs 2500. And then Rs 500 was spent on its repair and sold for Rs 3300. Find profit/loss percent.

Answer 1

Given,

The buying price of a second-hand tv = Rs.2500.

Repairing cost = Rs.500.

Selling price = Rs.3300.

To Find,

Profit or loss on this whole process.

Solution,

We will solve this profit-loss mathematical problem with the steps as follows,

Total Money spend on this TV including the repairing cost,Cost Price=

Rs. (2500+500)= Rs.3000.

The selling price is Rs.3300.

Profit =(3300-3000)=300 Rs.

Profit percentage = $\frac{Profit}{Cost Price}$×100.

Here Profit percentage = $\frac{300}{3000}$×100=10.

Hence, there is a total profit of 10%.

Answer 2

The profit percentage is 10%.

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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 2nd hand T.V. = Rs. 2500

The cost of repair = Rs. 500

∴ The total cost price of 2nd hand T.V. is,

= C.P. of T.V. + Repair cost

= Rs. 2500 + Rs. 500

= Rs. 3000

The selling price of the 2nd hand T.V. = Rs. 3300

Therefore,

The profit percentage is,

= $\frac{3300 \:-\: 3000}{3000} \times 100$

= $\frac{300 }{3000} \times 100$

= $\frac{300 }{30}$

= $\frac{30 }{3}$

= $\bold{10\%}$

Thus, the profit percentage is 10%.

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