Raj purchased a car for Rs. 7 lakhs and spent Rs. 50,000 on accessories. Later he sold for RS 8 lakhs. Find his profit/loss percent?
Answers
Solution!!
The concept of profit and loss has to be used here.
CP of car = Rs 7,00,000
Accessories = Rs 50,000
Total CP = Rs 7,50,000
SP = Rs 8,00,000
SP>CP
Profit = SP - CP
Profit = Rs 8,00,000 - Rs 7,50,000
Profit = Rs 50,000
Profit% = (Profit ÷ CP) × 100
Profit% = (50,000 ÷ 7,50,000) × 100
Profit% = (5 ÷ 75) × 100
Profit% = 6.66
More information:-
If SP>CP, then it is profit.
If CP>SP, then it is loss.
Profit = SP - CP
Loss = CP - SP
Profit% = (Profit ÷ CP) × 100
Loss% = (Loss ÷ CP) × 100
CP → Cost Price
SP → Selling Price
Step-by-step explanation:
His cp is 7 lakh and he spent 50,000 , so we have to add 7 lakh to 50,000 thousand , than the answer will be 7 lakh 50,000 thousand.
Now , he will sold the same car in rs.8 lakh .
so we need to subtract the both,
8,00000-7,50,000= 50,000
Now ,As your question it given that we need to find profit or loss percent , so he has profit of 50,000 because he purchased car by 7,00000 and he spent 50,000 . whenever spent will come so it need to add both the no.. now he sell the car at 8,00000 so obviously he having the profit .
Than we know the formula of profit percent .
profit upon cp × 100 . ok
how much profit raj have =50,000 and cp is 7,0000
50,000 upon 7,00000 ×100 = 7.142
*Hope it helps you