Finding CP  when SP and Profit or Loss Percent are given

Finding CP when SP and Profit or Loss Percent are given

Examples on finding cp when sp and profit or loss percent are given :

1) A man sells his scooter for $18000 making a profit of 20%. How much did the scooter cost him?

Solution:
Let c.p = $100

As there is profit % as 20 so s.p = 100 + 20 = $120

Let the c.p of the scooter be $x

Now make proportions as

100/x = 120/18000

Cross multiply

120x = 100 . 18000

120x = 1,800,000

So, x = 1,800,000/120

x = $15000

Hence the cost price of the scooter is $15000.

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2) By selling an AC for $ 20,000, I lose 20%. What did I pay for it?

Solution:
We have S.P. = $ 20,000 and loss = 20%.

Let c.p = $100

As there is loss % as 20 so s.p = 100 - 20 = $80

Let the c.p of the scooter be $x

Now make proportions as

100/x = 80/20,000

Cross multiply

80x = 100 . 20,000

80x = 2,000,000

So, x = 2,000,000/80

x = $ 25000

Hence the cost price of the AC is $25,000.

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3) SP = $450 and profit % = 50, find CP.

Solution :
Let c.p = $100

As there is profit % as 50 so s.p = 100 + 50 = $150

Let the c.p of the scooter be $x

Now make proportions as

100/x = 150/450

Cross multiply

150x = 100 . 450

150x = 45,000

So, x = 45,000/150

x = $300

Hence, CP = $300

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4) A shopkeeper sells one transistor for $ 840 at a gain of 20% and another for $ 960 at a loss of 4%. His total gain or loss percent is:

1st Transistor
Let c.p = $100
As there is profit % as 20 so s.p = 100 + 20 = $120
Let the c.p of the scooter be $x
Now make proportions as
100/x = 120/840
Cross multiply
120x = 100 . 840
120x = 84,000
So, x = 84,000/120
x = $700
Hence, CP = $700
2nd Transistor
Let c.p = $100
As there is loss % as 4 so s.p = 100 - 4
= $96
Let the c.p of the scooter be $x
Now make proportions as
100/x = 96/960
Cross multiply
96x = 100 . 960
96x = 96,000

So, x = 96,000/96
x = $1000
Hence, CP = $1000

∴ Total CP = 700 + 1000 =$1700
Total SP = 840 + 960 = $1800
Profit = SP - CP
Profit = 1800 -1700 = $100
Profit % = (Profit/CP )x100
Profit % = (100/1700)x100
Profit % = 5.88%
Profit and Loss

Finding profit or loss percent
Finding cp when sp and Profit or Loss percent are given
Finding sp when cp and Profit or Loss percent are given
Solved examples on Profit and Loss

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