Find the S.P when the cost price is 1750 and gain is 20 %
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Answer:
C.P= 1750
gain=20%
= 20%of 1750
=20/100×1750
=350
So SP= 1750+350
=2100
Hope it will help you.....
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Cost Price: The price at which an article is bought or purchased is called its cost price. (C.P.)
Selling Price: The price at which an article is sold is called its selling price. (S.P.)
Profit: When an article is sold for more than what it costs, we say that there is a ‘profit’ or gain.
Loss: When an article is sold for less than what it costs , we say that there is a ‘loss’.
When the selling price is equal to the cost price, then there is neither profit nor loss.
We recall a few important facts below:
Profit = Selling Price – Cost Price
Loss = Cost Price – Selling Price
Cost Price = Selling Price – Profit or, Selling Price + Loss
Selling Price = Cost Price + Profit or, Cost Price – Loss
Profit or Loss per cent =
\dfrac{Total \hspace{1mm} profit/loss}{cost \hspace{1mm} price} \times 100
Caution: Profit or loss per cent is never calculated on the number of items sold, but on the cost prices of the items.
In calculating any percentage change, the increase or decrease is expressed as a percentage of the first value. Buying comes before selling , thus, profit or loss is expressed as a percentage of the buying price ( i.e., the cost price ) and not of the selling price.
Overheads – If there are some additional expenses incurred on the transportation , repair etc of an article purchased, they are included in the C.P. of the article and are called ‘overheads’.
3 Major Type of Profit and Loss Problems
Type 1 : Find Profit or Loss Percent.
Example 1: What is the profit per cent if a table bought for
Rs \hspace{1mm} 65
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20/100×1750=350
sp=1750+350= 2100 ( Ans)
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