Question

Using the figures given below, frame problems based on profit percent or loss percent.​

Cost price of 50 Kg grain ₹ 2000, selling price ₹ 43 per kg.

Answer 1

Problem: Amit bought 50 kg of rice for Rs 2000. Later, he sold them all at the rate of Rs 43 per kg. Did he make a profit or a loss? What was its percentage?

Cost price of 50 kg of rice = ₹ 2000

Selling price of 1 kg of rice = ₹ 43

∴ Selling price of 50 kg of rice = 50 × 43 = ₹ 2150

Since selling price is more than cost price, so there is a profit.

Profit = Selling Price − Cost Price

= 2150 − 2000

= Rs 150

So, Amit made a profit of Rs 150 in this transaction.

Let x % be the Amit's profit, then,

`"x"/100 = "Profit"/"cost price" = 150/2000`

`=> "x"/100 xx 100 = 150/2000 xx 100`

`=>  "x" = 15/2 = 7 1/2`

∴ Amit made a profit of `7 1/2%` in this transaction.