Question

Nasim bought a water tank, to store water at Rs.1200. He spends Rs.300 to cover it with metal sheet. After sometime, they need a big tank, so he sold old tank at Rs.1200. Find profit or loss and its percentage.

Answer 1

SOLUTION :

Given :

Cost price (C.P) of the water tank = ₹ 1200

Spent to cover it with metal sheet (expenses) = ₹ 300

Selling price of tank (S.P) = ₹ 1200

Total cost price = C.P + expenses

Total cost price = 1200 + 30p = ₹ 1500

Total cost price (C.P) = ₹ 1500

C.P > S.P

Loss = C.P - S.P

Loss = 1500 - 1200 = ₹ 300

Loss = ₹ 300

Loss % = (Loss/C.P ) × 100

Loss % = (300/1500)/100

= 100/5 = 20 %

Loss percentage = 20 %

Hence, Nasim incurred a loss of ₹ 300 & the Loss percent is 20 %.

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Answer 2

Amount for buying water tank = Rs.1200

Amount of covring metal sheet = Rs.300

Total price = Rs.1200+Rs.300 = Rs.1500

Selling price of tank = Rs.1200

Because Nasim bought in total price Rs. 1500 and selling to it in Rs.1200.

So their is loss for Nasim = Rs.1500-Rs.1200

= Rs.300

Loss in percentage $= loss *\frac{100}{cost price}$

$= 300*\frac{100}{1500}$

$= 20 percentage$