Amit undertakes to supply $1000$ pieces of particular component at Rs. $100$ per piece. According to his estimates, even if $15$ % fail to pass the quality tests, then he will make a profit of $70$ %. However, as it turned out, $50$ % of the components were rejected. What is the loss suffered by Amit?

10

% Loss

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No loss

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5

% Profit

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20

% Loss

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Solution

The correct option is C No loss
Total components $= 1000$

If 15% fails, then remaining components to be sold $= 1000 - 15 % o f 1000 = 850$

Selling price of a component $= 100 R s .$

$∴ T o t a l S e l l i n g P r i c e = 100 \times 850 = 85000 R s$

Since, after selling $850$ components, Amit makes a profit of $70 %$

We know that $S P = C P + P r o f i t$

$\Rightarrow 85000 = C P + 70 % o f C P$

$\Rightarrow 85000 = \frac{17 \times C P}{10}$

$∴ C P = \frac{85000 \times 10}{17} = 50000 R s$

Now, when $50 %$ components rejected, then number of components to be sold $= 1000 - 50 % o f 1000 = 500$

$T o t a l S e l l i n g P r i c e (S P) = 500 \times 100 = 50000 R s$

$L o s s = C P - S P = 50000 - 50000 = 0 R s$

$∴ N o L o s s$

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Amit undertakes to supply 1000 pieces of particular component at Rs. 100 per piece. According to his estimates, even if 15% fail to pass the quality tests, then he will make a profit of 70%. However, as it turned out, 50% of the components were rejected. What is the loss suffered by Amit?