Question

A shopkeeper buys a stove from a manufacturer for $960.00. Calculate the selling if he makes a profit of 15% and the selling price if he makes a loss of 15%.

Answer 1

Answer :

• SP in profit = 1104
• SP in loss = 912

Given :

• CP = Rs 960
• Profit = 15%
• Loss = 15%

To Find :

• The SP of given both profit and loss.

We know :

• That when CP and Profit % is given than we use :

$\boxed{ \small\rm SP \: = \bigg( \frac{ \: 100 \: + \: p \: }{ \: 100 \: } \bigg) \times \: CP \: }$

• And when CP and loss % is given than we use :

$\boxed{ \small\rm SP = \bigg( \frac{ \: 100 \: {\over{ \: }} \: loss \: }{ \: 100 \: } \bigg) \times \: CP}$

Solution :

Here, CP = Rs 960

Percentage of profit ( p ) % = 15%

Therefore, SP =

• $\small\rm SP \: = \bigg( \frac{ \: 100 \: + \: p \: }{ \: 100 \: } \bigg) \times \: CP \: \\ \\ \small\rm \: = \bigg( \frac{ \: 100 \: + \: 15 \: }{ \: 100 \: } \bigg) \times \: 960 \: \\ \\ \rm = \frac{115}{100} \times960 \\ \\ = \bf 1104$

And :

Here, CP = Rs 960

Percentage of loss % = 15%

Therefore, SP =

• $\small\rm SP \: = \bigg( \frac{ \: 100 \: { \over{ \: }} \: loss \: }{ \: 100 \: } \bigg) \times \: CP \: \\ \\ \small\rm \: = \bigg( \frac{ \: 100 \: {\over{ \: }} \: 15 \: }{ \: 100 \: } \bigg) \times \: 960 \: \\ \\ \rm = \frac{95}{100} \times960 \\ \\ = \bf 912$

Therefore :

• SP of stove in 15% profit = 1104

• SP of stove in 15% loss = 912

Answer 2

Answer :-

1. Selling price after making the profit of 15% = $1,104.
2. Selling price after facing the loss of 15% = $912.

Step by step explanation :-

Given :-

1. Cost price of the stove = $960.00.
2. Loss occurred = 15%.
3. Profit percentage = 15%.

To find :-

1. Selling price after 15% profit.
2. Selling price after 15% loss.

Concept :-

Here, we're given with the two situations :-

• The first situation deals with a profit of 15% when the cost price is provided, so we'll apply the formula for finding the selling price when both cost price and profit percentage is given.

• The second situation deals with the occurrence loss of 15% and we'll be calculating the selling price when the cost price and the loss percentage is given.

Solution :-

Given, Cost price ( CP ) = $960, and profit% = 15%

So, the selling price (SP) can be obtained from the following formula :-

$\mathbb Selling \: price = ( \frac{100 + p}{100} ) \times CP$

• Where, p = profit percentage.

Substituting the values,

$\mathbb SP = ( \frac{100 + 15}{100} ) \times 960$

$\implies \frac{115}{100} \times 960$

$\implies\bf\ {1104}$

Now, finding the selling price when the cost price and the loss percentage is given by the formula :-

$\mathbb Selling \: price = ( \frac{100 - l}{100} ) \times CP$

• Where, l = loss percentage.

Substituting the values ,

$\mathbb SP = ( \frac{100 - 15}{100} ) \times 960$

$\implies \frac{95}{100} \times 960$

$\implies\bf\ {912}$

Hence,

• SP after 15% loss = $912 ✓
• SP after 15% profit = $1104 ✓