Question

A shopkeeper sold a machine for ₹ 540 and suffered a loss of 10%. At what price should be have sold the machine so as to earn a profit of 10%?​

Answer 1

Concept:

Percentage is a special mathematical measurement of fraction, mathematical quantities and numerical values etc. out of total 100.

Given:

Given that, a shopkeeper suffered loss of 10% after selling a machine for ₹ 540.

Find:

We have to find the suitable selling price of machine so that the shopkeeper can earn a profit of 10%.  

Solution:

Given that, the selling price of the machine initially ₹ 540.

The loss for this cost is 10%

Let the cost price be = x

So the selling price after 10% loss = x*((100-10)/100) = 90x/100 = 9x/10

According to condition the mathematical equation is,

9x/10 = 540

9x = 540*10

9x = 5400

x = 5400/9

x = 600

So the cost price is = ₹ 600

To earn 10% profit the selling price should be = ₹600* ((100+10)/100) = ₹ (6*110) = ₹ 660

Hence to obtain 10% profit the selling price of machine should be ₹ 660.

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Answer 2

Concept

Profit percentage is calculated as

Profit % = (SP - CP)/CP *100

Given

A shopkeeper, by selling a machine for ₹ 540, suffered a loss of 10%

Find

we need to find the price at which the machine should be sold as to earn a profit of 10%

Solution

We have

Selling price = 540

Loss = 10%

Loss = (CP - SP)/CP * 100

10 = (CP-540)/CP * 100

1/10 = (CP-540)/CP

CP = 10 (CP-540)

CP = 10CP - 5400

9CP = 5400

CP = 600

Now, we need to find the SP at which the shopkeeper earns a profit of 10%

10/100 = (SP-CP)/CP

600 = 10 (SP-600)

60 = SP - 600

SP = 660

Thus, the machine must be sold at Rs 660 so as to earn a profit of 10%.

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