Question

Using the figures given below, frame problems based on profit percent or loss percent
​Cost price Rs 8600, transport charges Rs 250, porterage Rs 150, selling price Rs 10000

Answer 1

Problem : Vinay bought a machine from a factory for Rs 8600. He spent Rs 250 on transport and Rs 150 on porterage. If he sold it to a customer for Rs 10000, what was his profit percent or loss percent?

Solution : Cost price of machine = Rs 8600
Money spent on transport = Rs 250
Money spent on porterage = Rs 150
Total expenses = cost of machine + transport charges + porterage charges
= 8600 + 250 + 150
= Rs 9000
That is, total cost price = Rs 9000
Selling price of the machine = Rs 10000
Since selling price is more than total cost price, so there is a profit.
Profit = Selling price − total cost price
= 10000 − 9000
= Rs 1000
Let x% be the Vinay's profit in this transaction. Then,
$\frac{x}{100}=\frac{\mathrm{profit}}{\mathrm{total}\mathrm{cost}\mathrm{price}}=\frac{1000}{9000}$
⇒$\frac{x}{100}\times 100=\frac{1000}{9000}\times 100$
⇒x = $\frac{100}{9}$ = $11\frac{1}{9}$
∴ Vinay made a profit of $11\frac{1}{9}$ % in this transaction.