Question

Find the gain or loss % when:

Cost Price = ₹ 8600; Overhead Expenses = ₹1000; Selling Price = ₹ 8928.

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Answer 1

Given :-

• Cost price = ₹8600
• Overhead expenses = ₹1000
• Selling price = ₹8928

Aim :-

• To find the gain or loss percent.

In order to find the percentage gain/loss, we first have to calculate the gain/loss.

• CP = ₹8600
• Overhead expenses = ₹1000

Therefore total spent on the product is :- Cost price + Overhead expenses

→ ₹8600 + ₹1000

→ ₹9600

Clearly, the Cost price is more than the selling price. Hence there's a loss.

The loss will be :- (Cost price) - (Selling price)

Substituting the values,

→ ₹9600 - ₹8928

→ ₹672

Hence the loss is ₹672.

$\longrightarrow \sf{loss\% = \dfrac{loss}{overall \: spent \: on \: the \: product} \times 100}$

• Loss = ₹672
• Overall spent on the product = ₹9600

Substituting,

$\implies \sf{loss\% = \dfrac{672}{9600} \times 100}$

Cancelling,

$\implies \sf{loss\% = \dfrac{672}{96 \not0 \not0} \times 1 \not0 \not0}$

$\implies \sf{loss\% = \dfrac{672}{96} }$

96 divides 672 exactly by 7. Therefore by cancellation we get :-

$\implies loss\% = 7 \%$

Some more formulas :-

$\longrightarrow \sf{selling \: price = \dfrac{100 + profit\%}{100} \times cost \: price}$

$\longrightarrow \sf{selling \: price= \dfrac{100 - loss\% }{100} \times cost \: price}$

$\longrightarrow \sf{cost \: price = \dfrac{100}{100 + profit\%} \times selling \: price}$

$\longrightarrow \sf{cost \: price = \dfrac{100}{100 - loss\%} \times selling \: price}$