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Word Problem* 7

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-eP= \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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