By selling an article for Rs. 240, a man makes a profit of 20% . What is the CP a. What would his profit percentage be if he sold the article for Rs. 275
Answers
Given:
Selling price of an article = Rs. 240/-
Profit gain for an article = 20%
To Find:
(i) Cost price of an article
(ii) Profit percentage if he sold the article for Rs. 275
Solution:
(i) Cost price of an article
Let it be = x
Now as we know
SP = CP + ( CP × Gain%/100 )
240 = x + ( x × 20/100 )
240 = x + 20x/100
240 = x + x/5
240 = 6x/5
6x = 1200
x = 200
Hence, Cost price of article is Rs. 200/-
(ii) Profit percentage if he sold the article for Rs. 275
Profit = Selling price - Cost price
Profit = 275 - 200
Profit = Rs. 75/-
Now
Profit% = ( Profit × 100 )/ CP
Profit% = 75 × 100 / 200
Profit% = 37.5%
Hence, profit percentage if he sold the article for Rs. 275 is 37.5% .
Step-by-step explanation:
Given : -
- By selling an article for Rs. 240.
- a man makes a profit of 20%
- he sold the article for Rs. 275
To Find : -
- What is the CP a. What would his profit percentage
Solution : -
✪ we have formula :
➙ CP = 100 × S P/100 + profit percentage
putting all values :
➙ CP = 100 × S P/100 + 20
➙ CP = 100× 240/120
➙ CP = 100 × 2 / 1
➙ CP = 200
✪ we have Profit = Sold - CP
Profit = 275 - 200
Profit = 75
Gain percent = profit × 100 / CP
Gain percent = 75× 100/ 200
Gain percent = 75 / 2
Gain percent = 37.5%
Hence Gain percent = 37.5%
More information : -
Profit.
- The surplus remaining after total costs are deducted from total revenue.
- the basis on which tax is computed and dividend is paid. It is the best known measure of success in an enterprise.
Gain profit
- profit that arises from events or transactions which are incidental to business such as sale of fixed assets,winning a court case, appreciation in the value of an asset.
- Profit- The excess of revenues of a period over its related expenses during an accounting year is termed as profit.