by selling a tv set at a profit of ₹600, a shopkeeper made a profit of 20%.find CP and SP.
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Solved Examples(Set 1) - Profit and Loss
1. John buys an old scooter for
Rs.
4700
and spends
Rs.
800
on its repairs. If he sells the scooter for
Rs.
5800
,
what is his gain percent?
A.
5
5
11
%
B.
10
%
C.
4
4
7
%
D.
12
%
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answer with explanation
Answer: Option A
Explanation:
cost price
=
4700
+
800
=
5500
selling price
=
5800
gain
=
5800
−
5500
=
300
gain percent
=
300
×
100
5500
=
60
11
%
=
5
5
11
%
2. The cost price of
20
articles is the same as the selling price of
x
articles. If the profit is
25
%
,
find the value of
x
A.
16
B.
15
C.
25
D.
18
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Discuss
answer with explanation
Answer: Option A
Explanation:
Solution 1
reference: formula 1
25
=
(
20
−
x
)
100
x
⇒
x
=
4
(
20
−
x
)
⇒
5
x
=
80
⇒
x
=
16
Solution 2
Let cost price of one article
=
1
Then, cost price of
20
articles
=
20
Given that cost price of
20
articles = selling price of
x
articles.
Therefore, selling price of
x
articles
=
20
⇒
selling price of
20
articles
=
20
×
20
x
=
400
x
20
×
125
100
=
400
x
⇒
x
=
16