Question

Shaji is a wholesale fish vendor, One day he bought 120 kilograms of fish at 70 rupees per kilograms. He spent 600 rupees to transport it to his shop. He found 40 kilograms of it decayed. The rest he sold at 95 rupees a kilogram. Does this result in a profit or loss? What is the percent?

Answer 1

Quantity of fish bought by Shaji = 120 kg

Price of one kilogram of fish = Rs 70

Total price = (Quantity of fish bought) × (Price of one kilogram of fish)

= Rs 120 × 70

= Rs 8400

Amount spent on transportation = Rs 600

Cost price = Rs 8400 + Rs 600

= Rs 9000

Quantity of decayed fishes = 40 kg

Quantity of fish left = 120 kg − 40 kg = 80 kg

Selling price of one kilogram of fish = Rs 95

Total selling price = (Selling price of one kilogram of fish) × (Quantity of fish left)

= Rs 95 × 80

= Rs 7600

As Rs 9000 > Rs 7600, i.e. the total cost price is greater than the total selling price, Shaji has incurred loss.

Loss = Cost price − Selling price

= Rs 9000 − Rs 7600

= Rs 1400

Loss percentage =

Thus, Shaji has suffered a loss of 15.56%.