Question

Hari bought and LED TV for 036,600 and sold it rupees 40260 find its profit or loss percent​

Answer 1

Its profit percentage is 10%.

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Let's understand a few concepts:

What is the cost price?

The cost price is the original price of items or goods at which it is bought by the retailer.

What is the selling price?

The selling price is the price of items or goods at which it is sold to the customer.

What is profit?

A profit usually occurs in the transaction when the selling price of the item is more than the cost price of the item.

What is loss?

A loss usually occurs in the transaction when the cost price of the item is more than the selling price of the item.

How to calculate the profit/loss percentage?

We will use the following formula to calculate the profit/loss percentage:

$\boxed{\bold{Profit\% = \frac{S.P. - C.P. }{C.P.} \times 100 }}$

$\boxed{\bold{Loss \% = \frac{C.P. - S.P.}{C.P.}\times 100 }}$

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Let's solve the given problem:

The cost price of the LED TV = Rs. 36600

The selling price of the LED TV = Rs. 40260

We can see that S.P. of the LED TV > C.P. of the LED TV

∴ there will be a profit in the transaction

Now, by using the above formula of profit percentage, we get,

The profit percentage incurred in the whole transaction is,

= $[\frac{40260 \: -\: 36600 }{36600} ]\times 100$

= $[\frac{3660 }{36600} ]\times 100$

= $\frac{1 }{10} \times 100$

= $\bold{10\%}$

Thus, the profit percentage is 10%.

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