Question

The profit earned when articles is sold for Rs 714 is fifteen times the loss incured when it is sold for Rs 316. Find at what price he sold hos goods if he wants to earn 15%​

Answer 1

Answer:

Let C.P. = Rs.C.

Then, 832−C=C−448

2C=1280⇒C=640

Required S.P. =150% of Rs. 640=

100

150

×640= Rs.960

Answer 2

Given data : The profit earned when articles is sold for Rs 714 is 15 times the loss incured when it is sold for Rs 316.

To find : Find at what price he sold his goods if he wants to earn 15%.

Solution : Let, cost price be x, a/c to given data;

➜ Profit = 15 * Loss ----{1}

Here,

➜ Profit = {selling price - cost price}

➜ Profit = {714 - x} ----{2}

and

➜ Loss = {cost price - selling price}

➜ Loss = {x - 316} ----{3}

Put eq. {2} and eq. {3} in eq {1}

➜ Profit = Loss

➜ {714 - x} = 15 * {x - 316}

➜ 614 - x = 15x - 4740

➜ - x - 15x = - 4740 - 614

➜ - 16x = - 4126

➜ 16x = 4126

➜ x = 4126/16

➜ x = 257.875 ----{4}

∴ cost price is Rs 257.875.

A/C to given data; profit percentage = 15 %

By formula of profit percentage

➜ Profit % = {Profit/Cost price} * 100

➜ 15 = {Profit/257.875} * 100

➜ 15/100 = Profit/257.875

➜ 0.15 = Profit/257.875

➜ Profit = 0.15 * 257.875

➜ Profit = Rs 38.68125

To find out selling price of goods;

➜ Profit = selling price - cost price

➜ 38.68125 = selling price - 257.875

➜ selling price = 38.68125 + 257.875

➜ selling price = Rs 554.43425

Answer : Hence, the selling price of goods is Rs 554.43425.