# Examples on Profit and Loss

Examples on Profit and Loss are as follows.

1. A dealer gains $200 when he sells on article at a profit of 10 %. Find the selling price (S.P.) of the article. Solution: Let the cost price (C.P.) be$ 100.

Therefore selling price (S.P.) = cost price (C.P.) + Profit

= $100 +$ 10

= $110. If the gain is$ 10, then the S.P. is $110. If the gain is$ 1, then the S.P. is $110/10. If the gain is$ 200, then the S.P. is $(110/10 × 200) =$ (110 × 200)/10

= $2,200. Hence, the selling price (S.P.) of the article is$ 2,200.

2. A man sold two tape recorders at $3,000 each. On one he gains 20 % and on the other he loses 20 %. What percent does he gain on the whole transaction? Solution: For the first tape recorder: Gain = 20 %. Let cost price (C.P.) =$ 100.

Therefore, selling price (S.P.) = $(100 + 20) =$ 120.

When selling price (S.P.) is $120, cost price (C.P.) is$ 100.

Therefore, when selling price (S.P.) is $300, cost price (C.P.) =$ 100/120 × 300

= $(100 × 300)/120 =$ 30000/120

= $2,500. Therefore, cost price (C.P.) of the first tape recorder =$ 2,500.

For the second tape recorder:

Loss = 20 %.

Let cost price (C.P.) = $100. Therefore, selling price (S.P.) =$ (100-20)

= $80. When selling price (S.P.) is$ 80,

the cost price (C.P.) is $100. Therefore, when selling price (S.P.) is$ 300, the cost price (C.P.)

= $100/80 x 300 =$ (100 x 300)/80

= $30000/80 =$ 3,750.

Therefore, cost price (C.P.) of the second tape recorder = $3,750. Thus, total cost price (C.P.) of two tape recorders =$ 2,500 + $3,750 =$6,250.

Total selling price (S.P.) of two tape recorders = $(2 x 3,000) =$ 6,000.

Thus, cost price (C.P.) > selling price (S.P.) so, there is a loss

Loss = Cost price (C.P.) - Selling price (S.P.)

= $6,250 -$ 6,000

= $250. Percentage loss = Loss/Cost price (C.P.) × 100 = 250/6250 × 100 = (250 × 100)/6250 = 25000/6250 = 4 %. Hence, the man loses 4 % on the whole transaction. 3. A person bought 50 dozen eggs at$ 8 a dozen. Out of these, 20 eggs were found broken. He sold the remaining eggs at $0.80 per egg. Find his gain or loss percent. Solution: Cost price (C.P.) of 50 dozen eggs =$ 8 x 50 = $400. Number of broken eggs = 20. Total number of eggs = 50 x 12 = 600. Number of good eggs = 600 - 20 = 580. Selling price (S.P.) of 580 eggs =$ 0.80 x 580 = $464. Since, selling price (S.P.) > cost price (C.P.), there is a profit. Profit = selling price (S.P.) - cost price (C.P.) =$ (464 - 400)

= $64. Profit % = Profit/Cost Price (C.P.) × 100 = 64/400 × 100 = (64 × 100)/400 = 6400/400 = 16. Hence, profit = 16 %. 4. A dealer bought 18 tables at$ 550 per table. He sold 12 of them at $650 per table and the remaining tables at$ 500 per table. Find his gain or loss percent.

Solution:

Cost price (C.P.) of 18 tables = $550 x 18 =$ 9,900.

Selling price (S.P.) of 12 tables = $650 x 12 =$ 7,800.

Number of remaining tables = 18 - 12 = 6.

Selling price (S.P.) of remaining 6 tables = $500 x 6 =$ 3,000.

Total selling price (S.P.) of 18 tables = $7,800 +$ 3,000 = $10,800. Since, selling price (S.P.) > cost price (C.P.), there is a profit. Profit = Selling price (S.P.) - Cost price (C.P.) =$ 10,800 - 9,900

= $900. Profit % = Profit / Cost price (C.P.) × 100 = 900/9900× 100 = (900 × 100)/9900 = 90000/9900 = 100/11 = 91/11. Hence, profit = 91/11 %. 5. If the selling price of 20 pens is the same as the cost price of 21 pens. Find the profit percent. Solution: Let cost price of each pen be$ 1.

Cost price (C.P.) of 20 pens = $1 x 20 =$ 20.

Selling price (S.P.) of 20 pens = Cost price (C.P.) of 21 pens = $21. Profit = Selling price (S.P.) - Cost price (C.P.) =$ 21 - $20 =$ 1.

Profits % = Profit / Cost price (C.P.) × 100

= 1/20 × 100

= (1 × 100)/20

= 200/20

= 5 %.

Hence, profit = 5 %.

6. A rice merchant sold 600 quintals of rice at a profit of 7 %. If a quintal of rice cost him $250 and his total overhead charges for transportation, etc., were$ 1,000, find his total profit and the selling price of 600 quintals of rice.

Solution:

Cost of one quintal of rice – $250. Therefore, cost of 600 quintals of rice =$ (250 x 600) = $150,000. Overhead charges =$ 1,000.

Hence, Cost price (C.P.) = $(150,000 + 1,000) =$ 151,000.

Profit = 7 %.

Net Profit = 7 % of $151,000 =$ 7/100 x 151,000

= $(7 x 151,000 )/100 =$ 1057000/100

= $10,570. Selling price (S.P.) = Cost price (C.P.) + Profit =$ (151,000 + 10,570) = $161,570. Thus, total profit is$ 10,570 and the selling price is \$ 161,570.

To find Profit or Loss when Cost Price and Selling Price are Given

To find Selling Price when Cost Price and Profit or Loss are Given

To find Cost Price when Selling Price and Profit or Loss are Given

Examples on Profit and Loss