Question

If initial cost of an article is rs.
7000, overhead charges are rs.500 and selling price is 9000, then the percent of loss or profit is

​

Answer 1

Answer:

Sp-Cp

9000-7500= 1500

Profit Percent=1500/7500 *100

                      =1/5 * 100

                       =20%

Step-by-step explanation:

Answer 2

The profit is 20%.

Given:

• If initial cost of an article is rs.7000,
• Overhead charges are rs.500 and selling price is 9000.

To find:

• Find the percent of loss or profit.

Solution:

Formula to be used:

1. If SP> CP, then profit= SP-CP.
2. %profit= profit/CP×100

Step 1:

Write CP and SP.

As,

Initial cost of an article is rs.

7000, overhead charges are rs.500.

So,

CP= 7000+500 =7500 Rs.

SP= 9000 Rs.

Step 2:

Find profit.

It is clear that SP > CP.

Thus,

Profit = 9000-7500

Profit =1500 Rs.

Step 3:

Find % profit.

%$Profit = \frac{1500}{7500} \times 100$

or

$Profit = 20$%

Thus,

Profit is 20%.

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