Question

A certain type of fan used to be sold for 1,300 rupees resulting in 15% profit for the dealer. Find the total cost of this fan.

During winter, the dealer decided to reduce the usual price of the fan by 120 rupees. Does he have a profit or loss now? What is the percent?

Answer 1

Selling price of the fan = Rs 1300

Profit percentage = 15

Selling price of the fan = (100 + 15)% of the total cost of the fan

= 115% of the total cost of the fan

⇒ Total cost of the fan =

According to the question, the dealer reduces the price of the fan by Rs 120 during winter.

⇒ New selling price of the fan = Rs (1300 − 120) = Rs 1180

As the selling price is greater than the cost price, so the dealer incurres profit.

Profit = Selling price − Cost price

= Rs (1180 − 1130.43)

= Rs 49.57

Profit percent =