Sundar sells a sofa set for Rs. 23,450, thereby earning a profit of Rs. 2350. If he would have sold it for Rs. 25,560, how much profit would have he earned? How much more profit would he earn with the new selling price?
Answers
Answer:
profit of 27,910 is the correct✅ Answer
Answer:
Formula used:
Selling price in case of profit
SP = {(100 + P%)/100} × CP
Selling price in case of loss
SP = {(100 - L%)/100} × CP
Where,
SP is Selling price
CP is Cost price
P% is Profit percent
L% is Loss percent
Calculations:
Let the cost price of sofa sets are y1 and y2
According to the question, we have
The cost price of first sofa set
SP = {(100 + P%)/100} × CP
⇒ 39,100 = {(100 + 15%)/100} × y1
⇒ 39,100 = (115/100) × y1
⇒ y1 = (39,100 × 100) × 115
⇒ y1 = Rs. 34,000
The cost price of second sofa set
SP = {(100 - L%)/100} × CP
⇒ 39,100 = {(100 - 15%)/100} × y2
⇒ 39,100 = (85/100) × y2
⇒ y2 = (39,100 × 100) × 85
⇒ y2 = Rs. 46,000
Now, The selling price of both sofa sets is
⇒ SP = 39,100 + 39,100
⇒ SP = Rs. 78,200
And, The cost price of both sofa sets is
⇒ CP = 34,000 + 46,000
⇒ Rs. 80,000
Loss in the whole transaction is
Loss = CP - SP
⇒ Loss = Rs. 80,000 - Rs. 78,200
⇒ Loss = Rs. 1,800
The Loss percent is
Loss percent = (L/CP) × 100
⇒ Loss percent = (1,800/80,000) × 100
⇒ Loss percent = 2.25%
∴ The loss percent in the whole transaction is 2.25%.
The cost price of each sofa set is
Now, The selling price of both sofa sets is
⇒ SP = 39,100 + 39,100
⇒ SP = Rs. 78,200
And, The cost price of both sofa sets is
⇒ CP = 34,000 + 46,000
⇒ Rs. 80,000
Loss in the whole transaction is
Loss = CP - SP
⇒ Loss = Rs. 80,000 - Rs. 78,200
⇒ Loss = Rs. 1,800
The Loss percent is
Loss percent = (L/CP) × 100
⇒ Loss percent = (1,800/80,000) × 100
⇒ Loss percent = 2.25%
∴ The loss percent in the whole transaction is 2.25%.
Step-by-step explanation:
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