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?
Answers
i. No, Anju is wrong. Cost price of diyas also includes the painting and transportation cost. ∴ Total cost price of diyas = Cost of diyas + Cost of paint + Transportation cost = 1000 + 200+ 100 = Rs 1300 ii. The cost of paint was Rs 200 and that for transportation was Rs 100. These costs are also to be added to the cost price of diyas. iii. Rs 1300 was actually spent before the diyas could be sold. iv. Total Cost Price of 1000 Diyas = Rs 1300 Selling Price of 1 Diya = Rs 2 ∴ Selling Price of 1000 Diyas = 2 x 1000 = Rs 2000 ∴ Profit = Selling Price – Total Cost Price = 2000 – 1300 = Rs 700 ∴ The profit made by coloring the diyas and selling them was Rs 700.
Answer:
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Step-by-step explanation:
Cost price of diyas also includes the painting and transportation cost. ∴ Total cost price of diyas = Cost of diyas + Cost of paint + Transportation cost = 1000 + 200+ 100 = Rs 1300Read more on Sarthaks.com - https://www.sarthaks.com/1787882/at-diwali-in-a-certain-school-the-students-undertook-a-design-a-diya-project