Practice the questions given in the worksheet on calculating overhead charges. We know, the extra expense made is called the overhead charges and it is a part of the cost price.
1. A shopkeeper buys an old T.V. for $5400 and spends $600 on its repairs. If he sells the repaired T.V. for $6900; find:
(i) his profit or loss
(ii) his profit or loss as percent
2. Sam bought an old machine for $3650 and spent $845 on its repairs. If he sold the machine for $4760; find his profit or loss.
3. An article is bought for $1960 and $75 is spent on its transportations. At what price must it be sold in order to gain $350?
4. Aaron buys an old machine for $2640 and spends $295 on its repairs. Find his gain or loss if he sells the machine for $3228.50. Also, express the gain or loss made as percent.
5. An old article is bought for $1600 and $900 is spent on its repairing. If the repaired article is sold for $2000; find:
(i) the profit or the loss made on selling the articles.
(ii) the profit or the loss as percent on the whole.
6. A man bought a car for $75000. He spent $9000 on repairs and spent $1500 on other things. He sold the car for $120000. Find his gain percent.
7. Jack, a shopkeeper in New York, buys some goods for $5650 from California and spends $350 on his travelling and transportations of the goods purchased. If in New York, he is able to sell all these goods for 5700; find the loss suffered by Jack and express it as percent.
Answers for the worksheet on calculating overhead charges are given below to check the exact answers of the above questions.
Answers:
1. (i) Profit = $900
(ii) 15% profit
2. Profit = $265
3. $2385
4. Profit = $293.50; 10% gain
5. (i) Loss = $500
(ii) 20% loss
6. 40 20/57%
7. $300; 5% loss
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