Question

The cost price of a carpet is ₹ 4000 which is 20% below the marked price. The trader allows a discount of 8%.

On this basis calculate the following.



i. Find the marked price of the carpet.

a. ₹ 3000 b. ₹ 5500

c. ₹ 5000 d. ₹ 4000


ii. What is the selling price of the carpet?

a. ₹ 5400 b. ₹ 4600

c. ₹ 5000 d. ₹ 3000


iii. Calculate the profit and profit per cent gained.

a. Profit = ₹ 600 b. Profit = ₹ 560

Profit % = 15% Profit % = 12%


c. Profit = ₹ 800 d. Profit = ₹ 580

Profit % = 10% Profit % = 8%

Answer 1

Answer:

1. Cost price = Rs 4500; Selling price = Rs 5000

Here selling price is more than cost price, so there is a profit.

Profit = Selling price − Cost price

= 5000 − 4500

= Rs 500

Hence, there is a profit of Rs 500.

2. Cost price = Rs 4100; Selling price = Rs 4090

Here selling price is less than cost price, so there is a loss.

Loss = Cost price − Selling price

= 4100 − 4090

= Rs 10

Hence, there is a loss of Rs 10.

3. Cost price = Rs 700; Selling price = Rs 799

Here selling price is more than cost price, so there is a profit.

Profit = Selling price − Cost price

= 799 − 700

= Rs 99

Hence, there is a profit of Rs 99.

4. Cost price = Rs 1000; Selling price = Rs 920

Here selling price is less than cost price, so there is a loss.

Loss = Cost price − Selling price

= 1000 − 920

= Rs 80

Hence, there is a loss of Rs 80.

The complete table is shown below.

 

  Ex.    Cost Price (in Rs)  Selling Price

  ( in Rs)   Profit or Loss   How Much ?

 

  1.    4500    5000 Profit Rs 500

  2.    4100    4090 Loss Rs 10

  3.    700    799 Profit Rs 99

  4.    1000    920 Loss Rs 80

Step-by-step explanation:

1. Cost price = Rs 4500; Selling price = Rs 5000

Here selling price is more than cost price, so there is a profit.

Profit = Selling price − Cost price

= 5000 − 4500

= Rs 500

Hence, there is a profit of Rs 500.

2. Cost price = Rs 4100; Selling price = Rs 4090

Here selling price is less than cost price, so there is a loss.

Loss = Cost price − Selling price

= 4100 − 4090

= Rs 10

Hence, there is a loss of Rs 10.

3. Cost price = Rs 700; Selling price = Rs 799

Here selling price is more than cost price, so there is a profit.

Profit = Selling price − Cost price

= 799 − 700

= Rs 99

Hence, there is a profit of Rs 99.

4. Cost price = Rs 1000; Selling price = Rs 920

Here selling price is less than cost price, so there is a loss.

Loss = Cost price − Selling price

= 1000 − 920

= Rs 80

Hence, there is a loss of Rs 80.

The complete table is shown below.

 

  Ex.    Cost Price (in Rs)  Selling Price

  ( in Rs)   Profit or Loss   How Much ?

 

  1.    4500    5000 Profit Rs 500

  2.    4100    4090 Loss Rs 10

  3.    700    799 Profit Rs 99

  4.    1000    920 Loss Rs 80

Answer 2

Given: Cost Price of the carpet = Rs. 4,000

           C.P. is 20% below the Marked price

           Discount allowed by the trader = 8%

To find: i) Marked price of the carpet

             ii) Selling price of the carpet

             iii) Profit and profit %

Let: Marked price = X

Solution: According to the given question,

i) Cost price is 20% less than the marked price

i.e., Cost price = X - 20% of X

⇒ 4,000 = X - 20X/100

⇒ 4,000 = $\frac{100X - 20X}{100}$ = 80X/100

⇒ 80X = 4,000 × 100 = 4,00,000

⇒ X = 4,00,000/80 = 5,000

i.e., Marked price = Rs. 5,000

ii) Selling price

Now, the trader gave 8% discount on Marked price

Discount = 8% of 5,000 = 8/100 × 5,000

                                        = Rs. 400

.:Selling Price = Marked price - discount

                     = 5,000 - 400 = Rs. 4,600

Selling Price is Rs. 4,600

iii) Profit

.: Profit = Selling price - Cost price

            = 4,600 - 4,000

            = Rs. 600

.: Profit % = Profit/Cost price × 100

                = 600/4,000 × 100

                = 15%

Therefore, the trader had a profit of 15% or Rs. 600 when he sold a carpet with Marked price Rs. 5,000 at Rs. 4,600.