(c) Rajesh buys an old sofa-set for 1,250 and spends 350 on its
repairs:-
find the profit or the loss made, if Rajesh is able to sell the
repaired sofa-set for 1,540.
(ii) also find the percentage profit or loss made on the whole.
Answers
Answered by
0
Answer:
Loss 1250+350-1540=60
Percentage loss 60/1600*100=60/16=3.75%
Answered by
68
Given:
- The original cost price of an old sofa-set = ₹ 1,250
- Cost spent on its repairs (overheads) = ₹ 350
- The selling price of the sofa-set = ₹ 1,540
To find:
- The profit or loss made by Rajesh on selling the sofa.
- The profit or loss percentage made by him on the whole transaction.
Solution:
Let the Cost Price be C.P. and the Selling Price be S.P. We know that the overhead expenses are added to the cost price, we get the total cost price as:
Now, we have,
- C.P. = ₹ 1,600
- S.P. = ₹ 1,540
Its obviously a , as C.P. > S.P., and we know, . Hence, Rajesh made a loss on selling the sofa-set for ₹ 1,540.
How much did he lose?
This calculation can be carried out by using the formula:
We're also asked to calculate the percentage of profit/loss made. How can we calculate it? Yes, he had made a loss of ₹ 60 and here's the formula to calculate the Loss Percentage!
On substituting the measures,
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