A 10 kg packet of cement costs ₹12,500, with a tax of ₹1250. If all the cement was sold for ₹1300 per kg. Does the transaction accounts for a profit or a loss and by how much?

Loss of ₹750

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Gain of ₹750

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Loss of ₹75

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Gain of ₹75

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Solution

The correct option is A Loss of ₹750
Given:
Cost of 10 kg of cement = ₹12,500
Tax paid = ₹1250
$∴$ total cost price of cement = ₹12500 + 1250 = ₹13,750
S.P of 1kg of cement = ₹1300
$∴$ S.P of 10 kg of cement = ₹13,000
$∵$ S.P < C.P, the transaction is a loss.
Loss = C.P - S.P = 13750 - 13000 = ₹750

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