Solved examples on Profit and Loss
In this section you can see solved examples on profit and loss. From these problems I hope you can solve your questions.Solved examples on Profit and Loss:
1)Samy sold his dinning table set at a loss of 20%. If he had sold it for $ 800 more, he would have received a profit of 5%. Find the cost price .
Solution :
Let the cost price be $ 100
So when C.P = 100 , loss of 20% means
S.P = 100 – 20 = 80
Profit of 5% means S.P = 100 + 5 = 105
The difference of two S.P = 105 - 80 = 25
If the difference is 25, C.P = $100
If the difference is $ 800 , C.P = (100 / 25 ) x 800
C.P = $ 3200
Example 2 : The cost of 11 pencils is equal to the selling price of 10 pencils. Find the loss or profit percent, whatever may be the cost of 1 pencil.
Solution : The cost price of 11 pencils = S.P of 10 pencils
Let C.P of 1 pencil is $1 .
C.P of 10 pencils = $ 10
S.P of 10 pencils = C.P of 11 pencils = $ 11
Profit on 10 pencils = 11 – 10 = $1
Profit % = ( 1/ 10) x 100 = 10 %
Example 3 : Steve bought two buffaloes for $30,000. By selling one at a loss of 15% and other at a profit of 19%, he found that selling price of both buffaloes is the same. Find the C.P of each.
Solution: Let the C.P of 1st buffalo = x
∴C.P of 2nd buffalo = 30,000 - x
S.P of 1st buffalo = ( 100 - loss% )
------------------- x C.P
100
S.P = 100 - 15x
-----------= 85x/ 100
100
S.P of 2nd buffalo = ( 100 - Profit%)
--------------------- x C.P
100
S.P = (100 + 19)(30,000- x) 119(30,000 -x)
-------------------- = ----------------
100 100
S.P of 1st buffalo = S.P of 2nd buffalo
85x/ 100 = 119 ( 30,000 - x)/ 100
⇒ 85x = 119(30,000 - x)
⇒ 85x = 3,570,000 - 119x
⇒ 85x + 119 x = 3,570,000
⇒ 204x = 3,570,000
⇒ x = 3,570,000 / 204
⇒ x = $17,500
C.P of 1st buffalo = $17,500
C.P of 2nd buffalo = 30,000 - 17,500 = $12,500
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