Question

Manav bought a watch from a wholesaler for ₹2500 and spent ₹200 to get it repaired. He then sold the watch to Akhil for ₹2650. Find the profit or loss made by Manav ?

Answer 1

Answer:

₹50 Loss.

Step-by-step explanation:

Cost price of watch = ₹2500

Overhead Expenses = ₹200

Total Cost Price = CP + Overhead Expenses

= ₹2500 + ₹200

Total Cost Price = ₹2700

Selling Price of Watch = ₹2650

Since CP > SP, there is a loss

∴ Loss = Cost Price - Selling Price

= ₹2700 - ₹2650

= ₹50.

Hence, loss made by Manav is ₹50.

Additional Information

Formulas:

Profit = SP - CP

Profit% = (Profit/CP) × 100

Loss = CP - SP

Loss% = (Loss/CP) × 100.