Word Problem* 7

Profit & Loss 0

Problem 7: If an electric iron is sold for Rs 76, profit gain is 62% of the cost price. If sale price is set as Rs 74, what will be profit gain percentage ?

Solution:

Lets suppose

$CP = x$

We are given

$SP = 76 Rs$

$Profit = 52%= \frac{52}{100}x$

i-e $P= \frac{52}{100}x$

We know

$P = SP - CP$

Put values,

$\frac{52}{100}x=76 -x$

Shift ‘x’ terms to one side

$\frac{52}{100}x+x=76$

$\frac{52x+100x}{100}=76$

$\frac{152x}{100}=76$

$x=\frac{7600}{152}$

$x=50 Rs$

So, Cost price is Rs 50

Now if we sale it for Rs 74

i-e $SP= 74 Rs$

and we know

$CP=50 RS$

The Profit

$P = ?$

We write again,

$P= SP - CP$

Put values

$P= 74-50$

$P= 24$

Know let suppose 24 is ‘y’ percent of CP

i-e

$24= \frac{y}{100} CP$

Leaving ‘y’ on one side and shift other terms other side, we grt

$y=\frac{24 \times 100}{50}$

$y=48%$

So , he will gain 48 % if he sales pen for 76 Rs.

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Word Problem* 7

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Word Problem* 7

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