Question

Using the figures given below, frame problems based on profit percent or loss percent
​Cost price of 50 Kg grain Rs 2000, selling price Rs 43 per kg.

Answer 1

Problem : Amit bought 50 kg of rice for Rs 2000. Later he sold them all at the rate of Rs 43 per kg. Did he make a profit or a loss ? What was its percentage ?

Solution : Cost price of 50 kg of rice = Rs 2000
Selling price of 1 kg of rice = Rs 43
∴ Selling price of 50 kg of rice = 50 × 43 = Rs 2150
Since selling price is more than cots price, so there is a profit.
Profit = Selling Price − Cost Price
= 2150 − 2000
= Rs 150
So, Amit made a profit of Rs 150 in this transaction.
Let x% be the Amit's profit, then,
$\frac{x}{100}=\frac{\mathrm{profit}}{\cos {\displaystyle \mathrm{t}}{\displaystyle }{\displaystyle \mathrm{price}}}=\frac{150}{2000}$
⇒$\frac{x}{100}\times 100=\frac{150}{2000}\times 100$
⇒x = $\frac{15}{2}$ = $7\frac{1}{2}$
∴ Amit made a profit of $7\frac{1}{2}$% in this transaction.