Mr. Rex bought 60 chairs at Rs. 960 each. For packing & transportation of the chairs, he spent Rs. 6,000. If he
marked each chair at Rs. 1,500 and allowed a discount of 10%, then what was the approximate profit percent eamed
by Mr. Rex after selling all the chairs?
Answers
Step-by-step explanation:
Given:-
Mr. Rex bought 60 chairs at Rs. 960 each. For packing & transportation of the chairs, he spent Rs. 6,000. And he marked each chair at Rs. 1,500 and allowed a discount of 10%.
To find:-
What was the approximate profit percent eamed
by Mr. Rex after selling all the chairs?
Solution:-
Given that
Cost price of one chair = Rs. 960
Number of chairs bought = 60
Total cost price of 60 chairs =
= 60×960
= Rs. 57600
Spending money for packing & transportation of the chairs = Rs. 6000
Total cost price of all chairs
= 57600+6000
= Rs. 63600
So, Total cost price of each chair
= 63600/60
=> 6360/6
=> 1060
Cost price of each Chair = Rs. 1060
Given Marked Price on each chair = Rs. 1500
Given discount = 10% of the marked price
=> Discount = 1500×10%
=> Discount = 1500×(10/100)
=> Discount = 1500/10
Discount = Rs. 150
So after allowing 10% discount then the selling price of each chair
=> Marked price-Discount
=1500 -150
=> Rs. 1350
Selling Price = Rs. 1350
Cost Price = Rs. 1060
Selling Price > Cos Price
Profit = Selling Price-Cost Price
=> Profit = 1350-1060
=> Profit = Rs. 290
Profit on each chair = Rs. 290
Profit Percentage = (Profit/Cost Price)×100
=> P% = (290/1060)×100
=>P% = (290×100)/1060
=> P% = 29000/1060
=> P% = 2900/106
=> P% = 1450/53
=> P% = 27.36% (approximately)
Mr. Rex will get 27.36% profit Percentage on each chair.
The profit on all chairs = 60×290
= Rs. 17400
Profit Percentage = (17400/63600)×100
=> 1740000/63600
=> 17400/637
=> 23.11%(approximately)
Answer:-
The approximate profit percent earn ed
by Mr. Rex after selling all the chairs is 23.11%
Used formulae:-
- Profit = Selling Price-Cost Price
- Profit Percentage = (Profit/Cost Price)×100
- Discount is always calculated on the Marked Price.
- Profit or Loss is always calculated on the Cost Price
Answer:
The profit percent is approximately 27.3%.
Step-by-step explanation:
According to the question,
The cost of one chair = Rs.960
Then the cost of 60 chairs = 960 × 60
= Rs.57600
Charges for the packing and the transportation of chairs = Rs.6000
Then total amount he paid for 60 chairs = 57600 + 6000
= Rs.63600
Mr. Rex marked selling price of each chair = Rs.1500
Selling price after 10% discount of each chair = 1500 - 10% of 1500
= 1500 - 150
= Rs.1350
Selling price of 60 chairs = 1350 × 60
= Rs.81000
Profit = selling price of 60 chairs - total amount he paid for 60 chairs
= 81000 - 63600
= Rs.17400
Now,
Profit percent earned by Mr. Rex =
=
= 27.3% (Approx.)
Therefore, the profit percent is approximately 27.3%.
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