Question

B. A trader sold 1750 articles for Gh52,500.00 and made a profit of 20%
i. calculate the cost price of each article
ii. if he wanted 45%profit on the cost price , how much should he have sold each of the article . Pleaseee i will fail if I don't anser

Answer 1

Question:

A trader sold 1750 articles for Rs. 52500 and made a profit of 20%. Then,

1) Calculate the cost price of each article

2) If he wanted 45%profit on the cost price, how much should he have sold each of the article.

Given:

• Selling Price of 1750 articles = Rs. 52500
• Profit% = 20%

Formulas Used:

$\sf{1.\;CP =\Bigg\{\dfrac{100}{(100 + Gain\%)}\times SP\Bigg\}}$

$\sf{2.\;SP=\Bigg\{\dfrac{(100+Gain\%)}{100}\times CP\Bigg\}}$

Solution:

1) SP of 1750 articles = Rs. 52500

SP of each article = $\sf{Rs.\;\dfrac{5250\!\!\!\not{0}}{175\!\!\!\not{0}}}$

$\sf{= Rs.\;30}$

CP of each article = $\sf{\Bigg\{\dfrac{100}{(100 + Gain\%)}\times SP\Bigg\}}$

$\sf{=Rs.\;\Bigg\{\dfrac{100}{(100 + 20)}\times 30\Bigg\}}$

$\sf{=Rs.\;\Bigg\{\dfrac{10\!\!\!\not{0}}{12\!\!\!\not{0}}\times 30\Bigg\}}$

$\sf{=Rs.\;\Bigg\{\dfrac{300}{12}\Bigg\}}$

$\sf{= Rs.\; 25}$

Hence, CP of each article is Rs. 25.

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2) CP of each article = Rs. 25

Required Profit% = 45%

If the wanted profit of 45% then, SP = $\sf{\Bigg\{\dfrac{(100+Gain\%)}{100}\times CP\Bigg\}}$

$\sf{= Rs.\;\Bigg\{\dfrac{(100+45)}{100}\times 25\Bigg\}}$

$\sf{= Rs.\;\Bigg\{\dfrac{145}{100}\times 25\Bigg\}}$

$\sf{= Rs.\;\Bigg\{\dfrac{3625}{100}\Bigg\}}$

$\sf{= Rs.\;36.25}$

Hence, if the trader wanted a profit of 45%, he should have sold each article for Rs. 36.25.