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Question
Using the figures given below, frame problems based on profit percent or loss percent.
Seeds worth ₹ 20500, labour ₹ 9700, chemicals and fertilizers ₹ 5600, selling price ₹ 28640.
Solution
Problem: A farmer purchased some seeds worth Rs 20500 for his field. He paid Rs 9700 on labour besides Rs 5600 on chemicals and fertilizers. If the selling price of his produce worth Rs 28640, what was the percentage of his profit or loss?
Cost price of seeds = ₹ 20500
Money spent on labour = ₹ 9700
Money spent on chemicals and fertilizers = ₹ 5600
Total expenses = cost of seeds + labour charges + money
spent on chemicals and fertilizers
= 20500 + 9700 + 5600
= Rs 35800
That is, total cost price is Rs 35800.
Selling price of the produce = Rs 28640
Since selling price is less than the total cost price, so there is a loss.
Loss = Total cost price − selling price
= 35800 − 28640
= Rs 7160
Let x % be the farmer's loss. Then,
`"x"/100 = "loss"/"Total cost price"`
`=> "x"/100 = 7160/35800`
`=> "x"/100 xx 100 = 7160/35800 xx 100`
⇒ x = 20
∴ The farmer suffered a loss of 20% in this transaction.
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