Question

Shivani bought a second – hand sofa set for Rs. 31,500. He spent Rs. 500
on its repair. He then sold it for Rs. 40,000. Find her profit or loss.

Answer 1

Given:

• CP of sofa = Rs. 31,500

• Overheads = Rs. 500

• SP of sofa = Rs. 40,000

To calculate:

• Profit or loss.

Calculation:

As we know that,

»› Overheads are added in CP to calculate the total cost price. So,

→ Total CP = CP of sofa + Overheads

→ Total CP = Rs. ( 31500 + 500 )

→ Total CP = Rs. 32000

Now, we have :

• Total CP = Rs. 32,000
• SP = Rs. 40,000

Clearly, SP is greater than CP here.

• SP > CP

→ Rs. 40,000 > Rs. 32,000

So, here is profit.

Now, calculating profit :

As we know that,

• Profit = SP – CP

Substituting values, we get :

→ Profit = Rs. ( 40,000 - 32,000 )

→ Profit = Rs. 8000

Hence, she got the profit of Rs. 8000 by selling it on Rs. 40,000.

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$\small\boxed{ \begin{array}{cc}\large\sf\dag \: {\underline{More \: Formulae}} \\ \\ \bigstar \: \sf{Gain = S.P – C.P} \\ \\ \bigstar \:\sf{Loss = C.P – S.P} \\ \\ \bigstar \: \sf{Gain \: \% = \Bigg( \dfrac{Gain}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{loss \: \% = \Bigg( \dfrac{loss}{C.P} \times 100 \Bigg)\%} \\ \\ \bigstar \: \sf{S.P = \dfrac{100+Gain\%}{100} \times C.P} \\ \\ \bigstar \: \sf{ C.P =\dfrac{100}{100+Gain\%} \times S.P} \\ \\\bigstar \: \sf{ S.P = \dfrac{100-loss\%}{100} \times C.P} \\ \\ \bigstar \: \sf{ C.P =\dfrac{100}{100-loss\%} \times S.P}\end{array} }$