Rahul bought a second hand machine for ₹ 25000 then he spent ₹ 5000 on its repair. Then
marked the price for the machine as ₹40000 and sold it to Ram for ₹ 36000. Find
i) Profit % for Rahul
ii) Discount given to Ram and also calculate discount%
iii) Amount paid by Ram if 6% GST was collected
Answers
Answer:
- The profit percent for Rahul is 20 %.
- The discount given to Ram is ₹ 4000 and the discount percent is 10 %.
- Amount paid by Ram if 6% GST was collected = ₹ 38160
Step-by-step explanation:
Given that:
- Rahul bought a second hand machine for ₹ 25000 then he spent ₹ 5000 on its repair.
- Marked the price for the machine as ₹40000.
- Sold it to Ram for ₹ 36000.
To Find:
- Profit percent for Rahul.
- Discount given to Ram and also calculate discount percent.
- Amount paid by Ram if 6% GST was collected.
Formula used:
- Profit = SP - CP
- Profit % = (100 × Profit)/CP %
- Discount = MP - SP
- Discount % = (100 × Discount)/MP %
- Total amount = {(100 + GST) × SP}/100
Where,
- SP = Selling price
- CP = Cost price
- MP = Marked price
We have:
Total cost price = Cost of machine + Repairing charges
Total cost price = ₹ 25000 + ₹ 5000
- Total cost price = ₹ 30000
- Selling price = ₹ 36000
- Marked price = ₹ 40000
Finding the profit percent for Rahul:
⟶ Profit = ₹ 36000 - ₹ 30000
⟶ Profit = ₹ 6000
⟶ Profit % = (100 × 6000)/30000 %
⟶ Profit % = 600000/30000 %
⟶ Profit % = 20 %
∴ The profit percent for Rahul = 20 %
Finding the discount and discount percent given to Ram:
⟶ Discount = ₹ 40000 - ₹ 36000
⟶ Discount = ₹ 4000
∴ The discount given to Ram = ₹ 4000
⟶ Discount % = (100 × 4000)/40000 %
⟶ Discount % = 400000/40000 %
⟶ Discount % = 10 %
∴ The discount percent given to Ram = 10 %
Finding the amount paid by Ram if 6% GST was collected:
⟶ Total amount = ₹ {(100 + 6) × 36000}/100
⟶ Total amount = ₹ {106× 36000}/100
⟶ Total amount = ₹ 106 × 360
⟶ Total amount = ₹ 38160
∴ Amount paid by Ram if 6% GST was collected = ₹ 38160
Given :-
Rahul bought a second hand machine for ₹ 25000 then he spent ₹ 5000 on its repair. Then marked the price for the machine as ₹40000 and sold it to Ram for ₹ 36000
To Find :-
Profit % for Rahul
ii) Discount given to Ram and also calculate discount%
iii) Amount paid by Ram if 6% GST was collected
Solution :-
At first we need to find total price
We need to find Profit %
Profit = SP - CP
Profit = ₹36000 - ₹30000
Profit = ₹6000
Now,
~Finding profit %
Profit% = (100 × profit)/(CP)
Profit% = (100 × 6000)/(30000)
Profit% = 600000/30000
Profit = 20%
Discount = MP - SP
Discount = ₹ 40000 - ₹ 36000
Discount = ₹4000
Discount % = (100 × Discount)/MP %
Discount% = (100 × 4000)/40000
Discount% = 400000/40000
Discount% = 10%
Amount = [(100 + 6) × 36000]/100
Amount = [106 × 36000]/100
Amount = 3816000/100
Amount = ₹ 38160