Madhesh bought 100 dozen of pins at Rs.10 per dozen. He spent Rs.500 on a particular tax and he sold them at Rs. 1 per each pin. What was his profit or loss percent?
Answers
Answer:
Cost price of 1 dozen of pins = Rs.10
Cost price of 100 dozen of pins = Rs. 100 x 10 = Rs.1000
Aamount of tax paid = Rs.500
Therefore total cost price = 1000 + 500 = Rs.1, 500
Selling price of total number of pins = 100 x 12 x 1 = Rs. 1,200
Therefore, loss = C.P – S.P = 1500 – 1200 = Rs.300
And loss % = loss x 100 / c.p = 100 x 100 / 1500 = 100/15 %
= 20/3 % = 6 2/3 %
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The loss percentage is 20%.
Given - Cost price
Find - Profit or loss percentage
Solution - Cost of pins = 100*10
Cost of pins = Rs. 1000
Total cost price = cost of pins + transportation
Total cost price = 1000 + 500
Total cost price = Rs. 1500
Selling price = 12*100*1
Selling price = Rs. 1200
Cost price is greater than selling price. Hence, it is a loss.
Loss = Cost price - selling price
Loss = 1500 - 1200
Loss = Rs. 300
Loss percent = loss/cost price*100
Loss percent = 300/1500*100
Loss percent = 20%
Hence, the loss percentage is 20%.
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