Question

Find the profit or loss in the following transactions. Also find profit percent or
loss percent in each case.

i) A cycle bought for ₹800 and is sold for ₹900.

ii) A shirt bought for ₹120 and is sold for ₹100.​

Answer 1

Answer:

i) 12.5%

ii) 16.67%

Step-by-step explanation:

The profit percent can be calculated as:

Profit % = 100 × Profit/Cost Price.

The loss percent can be calculated as:

Loss % = 100 × Loss/Cost Price.

i) Cost price(CP) = ₹800

Selling price(SP) = ₹900

Profit = SP - CP = ₹900 - ₹800 = ₹100

Profit % = 100 × 100/800 = 100/8 = 12.5%

ii) Cost price = ₹120

Selling price = ₹100

Loss = CP - SP = ₹120 - ₹100 = ₹20

Loss % = 100 × 20/120 = 16.67%

Hope this helps : )

Answer 2

Before, finding the answer. Let's find out on how we can find the answer.

• To find the Profit, we must subtract both Selling Price and Cost Price.

$\boxed{ \sf Profit = S.P- C.P}$

• To find the Loss, we must subtract both Cost Price and Selling Price.

$\boxed{\sf Loss = C.P - S.P}$

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Now, the formula for Percent when Profit or Loss is given :

$\boxed{\sf Profit \: or \: Loss \% = \frac{Profit/Loss}{Cost Price} \times 100 }$

__________________

Given :

• Cost Price = ₹800
• Selling Price = ₹900

To find :

• Profit or Loss
• Profit or Loss Percent

Solution :

Since, S.P > C.P, therefore here is profit.

∴ Profit = S.P. - C.P.

            = Rs.900 - Rs. 800

            = Rs.100

Profit Percent = $\sf \dfrac{Profit}{Cost Price} \times 100$

                       = $\sf \dfrac{100}{800} \times 100$

                       = $\sf \dfrac{10000}{800}$

                       = 12.5 %

Therefore,

• Profit is Rs.100
• Profit Percent is 12.5 %.

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Given :

• Cost Price = ₹120
• Selling Price = ₹100

To find :

• Profit or Loss
• Profit or Loss Percent

Solution :

Since, C.P > S.P, therefore here is loss.

∴ Loss = C.P. - C=S.P.

            = Rs.100 - Rs.120

            = Rs.20

Loss Percent = $\sf \dfrac{Loss}{Cost Price} \times 100$

                      = $\sf \dfrac{20}{120} \times 100$

                      = $\sf \dfrac{2000}{120}$

                      = 16.6%

Therefore,

• Loss is Rs.20
• Loss Percent is 16.6 %.