Question

A shopkeeper bought 20 tables at the rate of $ 1375 each and 25 chairs at the of $ 960 each.He spent $ 870 on transportation.He sold the tables and chairs at a flat rate of $ 1270 each.find his gain or loss in the transaction.

Answer 1

Rate of tables = $ 1375 each

Number of tables = 20

Hence,

Cost of total tables = $ 1375 * 20 = $ 27500

Rate of chairs = $ 960 each

Number of chairs = 25

Cost of total chairs = $ 960 * 25 = $ 24000

Cost price = $ 27500 + $ 24000 = $ 51500

Cost of transportation = $ 870

Total cost price ( CP ) = $ 51500 + $ 870 = $ 52370

Total number of objects = 20 + 25 = 45

Rate of selling all chairs and tables = $ 1270

Total selling price ( SP ) = $ 1270 * 45 = $ 57150

Here we find that, SP > CP

Hence, Profit is incurred.

Profit = SP - CP
P = $ 57150 - $ 52370
P = $ 4780
Profit = $ 4780
Now,

Profit percentage = ( P / CP ) * 100
P % = ( 4780 / 52370 ) * 100
P % = ( 478 / 5237 ) * 100
P % = 47800 / 5237
P % = 9.127 %

Profit percentage = 9.13 %

Answer 2

Here is your Solution

Rate of each tablet = $1375

Number of tablet of cost each $1375 =20 tablet.

Hence

Cost of total tablet =1375×20=$27500

Rate of each chair = $960

Number of chair of cost each $960 =25 tablet.

Hence

Cost of total chairs = 960×25=$24000.

Total Cost price = total Cost of tablet +total cost of chair

=>27500+24000 = $51500

Cost of transportation = $870

Total cost price= total Cost of chair +total cost of tablet +transportation

Total cost price=>27500+24000+870= $52370

Total number of objects (chair +tablet ) =45

Rate of selling price of chair and tablet =$1270 (given)

Hence,Total selling price = 1270×45=$57150

Our assumption is SP>CP

Hence,

Profit=SP-CP

Profit =$57150-$52370

Profit=$4780

Profit % = profit/CP×100

Profit %=4780/52370×100

Profit % = 478000/52370

Profit %=9.127%

Hence profit % = 9.13 (round off)

Hope it helps