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Formula for CI

A man purchas...

Question

A man purchased a bag of rice containing $70$ kg for Rs. $175$ . He sold it at the rate of Rs. $2.75$ per kg. Then the profit or loss in $%$ is ____________.

12 %

loss

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10 %

gain

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12 %

gain

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10 %

loss

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Solution

The correct option is A $10 %$ gain
Total rice $= 70 K g$

Cost price of rice bag $= C P = R s . 175$

Selling Rate $= R s . 2.75$ Per Kg

Selling Price $= S P = 2.75 \times 70$

$S P = R s . 192.5$

$S P > C P$ So it was a Profit affair.

Profit $% = \frac{S P - C P}{C P} \times 100 %$

$= \frac{192.5 - 175}{175} \times 100 %$

$= \frac{17.5}{175} \times 100 %$

$= 10 %$

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A man purchased a bag of rice containing 70kg for Rs. 175. He sold it at the rate of Rs. 2.75 per kg. Then the profit or loss in % is ____________.

The correct option is A 10% gainTotal rice =70KgCost price of rice bag =CP=Rs.175Selling Rate =Rs.2.75 Per KgSelling Price =SP=2.75×70SP=Rs.192.5SP>CP So it was a Profit affair. Profit %=SP−CPCP×100% =192.5−175175×100% =17.5175×100% =10%

A man purchased a bag of rice containing $70$ kg for Rs. $175$ . He sold it at the rate of Rs. $2.75$ per kg. Then the profit or loss in $%$ is ____________.