Question

Ram brought raw materials worth Rs 18000 for making shirts. He sold raw materials for 25500Rs. How much profit/loss related to profit or loss solve it​

Answer 1

Step-by-step explanation:

Profit and Loss problems are directly relevant for not only entrance exams (like GMAT, GRE, CAT), but also for the MBA syllabus like Accounting, Financial Statements and more. In this article we cover the basic definitions, formulas, solved examples and wrap it up with some practice questions.

Profit and Loss | Definitions, Formulas, Solved Problems

Basic Definitions and Formulas

Cost price (C.P.): This is the price at which an article is purchased.

Selling price (S.P.): This is the price at which an article is sold.

Profit or Gain: If the selling price is more than the cost price, the difference between them is the profit incurred.

Formula: Profit or Gain = S.P. – C.P.

Answer 2

Correct question :-

Ram brought raw materials worth Rs 18000 for making shirts. He sold raw materials for 25500Rs. Calculate the profit or loss.

Given:-

• C.P = 18000 Rs.
• S.P = 25500 Rs.

to find:-

• Loss/profit.

solution:-

since, S.P>C.P

there is a profit.

amount of profit = S.P-C.P

$\implies$ 25500-18000 = 7500

hence, there is a profit of 7500 Rs.