Question

If Rakesh purchased a watch for Rs. 1700 and sold it again for Rs. 1850. What was his profit / loss amount?

Answer 1

Answer :-

• The amount gain by Rakesh is Rs. 150.

Step-by-step explanation:

To Find :-

• The profit or loss amount.

Solution:

Given that,

• Cost price of watch = Rs. 1700
• Selling price of watch = Rs. 1850

As Selling price > Cost price, So, Profit.

We know,

Profit = S.P. - C.P.

Where,

• S.P. = Selling price
• C.P. = Cost price

=> Profit = Selling price - Cost price

=> Profit = Rs. 1850 - Rs. 1700

=> Profit = Rs. ( 1850 - 1700 )

=> Profit = Rs. 150

∴ The amount gain by Rakesh is Rs. 150.

Know more :-

Some more information related to profit and loss :-

• If selling price is greater than cost price, then Profit.
• Profit = Selling price - Cost price
• If Cost Price is greater than Selling price, then Loss.
• Loss = Cost price - Selling price.

Answer 2

Given :-

• Rakesh purchased a watch for Rs. 1700 and sold it again for Rs. 1850
• Cost Price = Rs,1700
• Selling Price = Rs,1850

To Find :-

• Profit or Loss

Solution :-

• In order to calculate gain or loss, we'll compare C.P and S.P. If S.P is greater thar there is gain, if C.P is greater than there is loss.

❏ Profit = Selling Price > Cost Price

➞ Profit = Selling Price - Cost Price

➞ Profit = 1850 - 1700

➞ Profit = Rs, 150

Thus, Profit Gained by Rakesh = Rs,150

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