Question

At Diwali, in a certain school, they undertook a ‘Design a Diya’ project. They bought 1000 diyas for ₹1000 and some paint for ₹200. To bring the diyas to the school, they spent ₹100 on transport. They sold the painted lamps at ₹2 each. Did they make a profit or incur a loss?

Answer 1

1000+200+100= Rs 1300 spent
Rs gained= 2×1000(for 1000 diyas)
=2000
2000 is greater than 1300.
Therefore they made a profit.

Answer 2

Answer:

They made a Profit of 700 Rs.

Step-by-step explanation:

For the project,

Number of Diyas bought = 1000

Cost Price of Diyas = Rs. 1000

So,

Cost Price of One Diya = 1000/1000 = Rs. 1

Price of the Paint = Rs. 200

Amount spent in the transportation = Rs. 100

Selling price of each Diya = Rs. 2

Now,

Total Price they paid for the Diyas (Including Paint and Transport), CP = 1000 + 200 + 100 = 1300

And,

Selling Price of Diyas, SP = 2 x 1000 = Rs. 2000

So,

Profit = SP - CP

Profit = 2000 - 1300

Profit = 700 Rs.

Therefore, they incurred a profit of 700 Rs.