Word Problem* 8_

Profit & Loss 0

Problem 8: A shopkeeper sales a pen for 13.20 Rs and gets a profit of 10%. If he wants to increase his profit to the limit of 15%, then at what price should he sale the pens ?

a) 13.53 Rs b) 13.72 Rs c) 13.80 Rs d) 13.86 Rs

Solution:

We suppose Cost Price (CP) of Pen is ‘x’

i-e $CP = x$

We are given that Sale Price (SP) is 13.20 Rs

i-e

$SP= 13.20Rs$

Also given that profit is 10 % of CP i-e;

$Profit = P = \frac{10}{100}\times x$

We know the profit formula

$P = SP - CP$

Put respective values

$\Rightarrow \frac{10}{100}\times x = 13.20 - x$

Shifting ‘x’ terms to one side

$\Rightarrow \frac{1}{10}x+x=13.20$

Simplifying,

$\Rightarrow \frac{11}{10}x=13.20$

$\Rightarrow x = \frac{10}{11}\times 13.20$

$\Rightarrow x =12$

So, we have calculated CP as Rs 12

Now Come to Condition

If we want to earn 15% profit of cost price i-e $Profit = P = \frac{15}{100}x$

Then what should be the SP ?

$SP = ?$

We Know $P = SP - CP$

Put values of condition !

$\frac{15}{100}x = SP - x$

Shift ‘x’ terms to one side

$\Rightarrow \frac{15}{100}x + x= SP$

$\Rightarrow \frac{115}{100}x = SP$

$\Rightarrow SP = \frac{115}{100}x$

Put value of x

$\Rightarrow SP = \frac{115}{100}\times 12$

$\Rightarrow SP = 13.80 Rs$

So he should sale it for 13.80 Rs for earning 15% profit

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Word Problem* 8_

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