Profit and Loss Percent

Illustration 1: Rohan sold a book for Rs 60 which he has bought for Rs 50. Find his profit or loss percent

Solution:  Cost Price of One book = 50 Rs.

       Selling Price of One book = 60 Rs.

As selling price is more than cost price so he is making profit.

Profit = SP -CP = 60- 50 = 10 Rs.

Illustration 2: If the C.P.of 25 chairs is equal to the S.P. of 30 chairs, find the loss percent.

Solution: Let the C.P. of each chair be Rs 1. Then,

C.P. of 30 chairs = Rs 30

It is given that,

S.P. of 30 chairs = C.P. of 25 chairs

S.P. of 30 chairs = Rs 25

Clearly, S.P. < C.P.

 So, there is loss given  by

Loss = C.P. - S.P.

       = Rs(30 - 25)

       = Rs 5

Now, Loss % =

Illustration 3: Three items are purchased at Rs 450 each. One of them is sold at a loss of 10%. At what price should the other two be sold so as to gain 20% on the whole transaction? What is the gain % on these two items?

Solution: We have, C.P. of one item = Rs 450

S.P. of three items = Rs(3 X 450)

                                = Rs 1350

Gain on the whole transaction = 20 % of S.P.

                                            = 20% of Rs 1350

                                           = Rs 270

S.P. of three items = C.P. + Gain

                               = Rs 1350 + Rs 270

                              = Rs 1620

It is given that first item is sold at a loss of 10%.

Loss on selling first item = 10% of Rs 450

                                         = Rs 45

S.P.  of first item = C.P. - Loss

                             = Rs 450 - Rs 45

                             = Rs 405

S.P. of three items is Rs 1620 and the S.P. of first item is Rs 405

S.P.  of the remaining two items = Rs 1620 - Rs 405

                                                  = Rs 1215

Thus, the other two items should be sold at Rs 1215

C.P.  of the remaining two items = Rs(2 X 450) = Rs 900

Gain on the remaining two items = S.P. - C.P

                                                     = Rs 1215 - Rs 900

                                                     = Rs 315

Gain % on the remaining two items

                                                    = 35%