Question

profit percent and loss percent with examples

Answer 1

 John sold two digital cameras at $3,000 each. On one he gains 20% and on the other he loses 20%. What percent does he gain on the whole transaction?Solution:For the first digital camera:Gain = 20%.Let cost price (C.P.) = $100.Therefore, selling price (S.P.) = $(100 + 20)                                       = $120.When selling price (S.P.) is $ 120, cost price (C.P.) is $100.Therefore, when selling price (S.P.) is $300, cost price (C.P.)= $100/120 × 300= $(100 × 300)/120= $30000/120= $2,500.Therefore, cost price (C.P.) of the first digital camera = $2,500.For the second digital camera:Loss = 20%Let cost price (C.P.) = $100.Therefore, selling price (S.P.) = $(100 - 20) = $80When selling price (S.P.) is $80, the cost price (C.P.) is $100.Therefore, when selling price (S.P.) is $300, the cost price (C.P.)= $100/80 × 300= $30000/80= $3,750.Therefore, cost price (C.P.) of the second digital camera = $3,750.Thus, total cost price (C.P.) of two digital cameras = $2,500 + $3,750 = $6,250Total selling price (S.P.) of two digital cameras = $(2 × 3,000) = $6,000.Thus, cost price (C.P.) > selling price (S.P.) so, there is a lossLoss = cost price (C.P.) - selling price (S.P.)       = $6,250 - $6,000       = $250.Percentage loss = loss/cost price × 100                      = 250/6250 × 100                      = 25000/6250                      = 4%Therefore, John loses 4% on the whole transaction

Answer 2

Answer:

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