Question

- Atul purchased a table for ₹2500. He later
sold it for ₹3720 with a profit of 24%. What
was the overhead expense for the table?​

Answer 1

Given :-

• CP = Rs.2500
• SP = Rs.3720
• Gain % = 24 .

To Find :-

• What was the overhead expense for the table ?

Formula used :-

• CP = ( SP * 100 ) / (100 + Gain%) .

Solution :-

it is given That, when Atul sold the table for Rs.3720 , he has a gain of 24% .

So,

→ Total CP of Table = 3720 * 100 / (100 + 24)

→ Total CP = (3720 * 100) / (124)

→ Total CP = Rs.3000

So, we can say That, Cost Price of Table with overhead expense is Rs.3000 .

So,

→ Total CP = CP of Table + overhead Price.

→ 3000 = 2500 + overhead Price .

→ overhead Price = 3000 - 2500

→ overhead Price = Rs.500 . (Ans).

Hence, Overhead expense for the table is Rs.500.

Answer 2

Answer:

$\frak{Given}\begin{cases}\textsf{CP = Rs. 2500}\\\textsf{SP = Rs. 3720}\\\textsf{Profit = 24\%}\end{cases}$

$\underline{\bigstar\:\:\textsf{We will Calculate Cost Price :}}$

$:\implies\tt SP=CP\times(100+Profit)\%\\\\\\:\implies\tt 3720=CP \times (100+24)\%\\\\\\:\implies\tt 3720=CP \times 124\%\\\\\\:\implies\tt 3720=CP \times \dfrac{124}{100}\\\\\\:\implies\tt \dfrac{3720 \times 100}{124}=CP\\\\\\:\implies\tt 30 \times 100=CP\\\\\\:\implies\tt CP=Rs.\:3000$

• As we have Given CP is less than the Original Cost Price, i.e. that Excess Price is Overhead Expense.

$\rule{160}{1}$

$\underline{\bigstar\:\:\textsf{Overhead Expense :}}$

$\dashrightarrow\tt\:\: Overhead\: Expense=Original\:CP-CP\\\\\\\dashrightarrow\tt\:\:Overhead\: Expense=Rs.(3000-2500)\\\\\\\dashrightarrow\tt\:\:\underline{\boxed{\textsf{\textbf{Overhead Expense = Rs. 500}}}}$

$\rule{200}{2}$

$\boxed{\begin{minipage}{6.5 cm}\underline{\text{Some Important Formulae Related to it :}}\\ \\ SP=CP\times(100+\sf Profit)\%\\ \\SP=CP\times(100-Loss)\%\\ \\Profit\%=\dfrac{Profit}{CP}\times100 \\ \\Loss\%=\dfrac{Loss}{CP}\times100\end{minipage}}$