Math Problem Statement

Few more questions on topic we did yesterday:

1)If the profit made on a packet of tea is Rs 4 and the cost price is 20,then how much is the profit percentage?

2)A box of Alphanso mangoes was purchased by a fruit seller for Rs.300 .However ,he had to sell them for Rs.255 because they began to get over ripe.What was the loss percentage ?

3)Karim bought 150 dozens pencils at Rs.10 a dozen .His overhead expenses were Rs.100 .He sold them at Rs. 1.20 each .What was his profit or loss percent ?

4)A grocer buys eggs at 10 for Rs.8 and sells at 8 for Rs 10 .Find the gain or loss percent

Solution

Let's solve each question step by step.

1. Profit Percentage on Tea Packet

  • Cost Price (C.P.) = Rs. 20
  • Profit = Rs. 4

Profit percentage formula: Profit Percentage=(ProfitC.P.)×100\text{Profit Percentage} = \left( \frac{\text{Profit}}{\text{C.P.}} \right) \times 100 Substitute the values: Profit Percentage=(420)×100=20%\text{Profit Percentage} = \left( \frac{4}{20} \right) \times 100 = 20\%

So, the profit percentage is 20%.


2. Loss Percentage on Mangoes

  • Cost Price (C.P.) = Rs. 300
  • Selling Price (S.P.) = Rs. 255

Loss percentage formula: Loss Percentage=(C.P.S.P.C.P.)×100\text{Loss Percentage} = \left( \frac{\text{C.P.} - \text{S.P.}}{\text{C.P.}} \right) \times 100 Substitute the values: Loss Percentage=(300255300)×100=45300×100=15%\text{Loss Percentage} = \left( \frac{300 - 255}{300} \right) \times 100 = \frac{45}{300} \times 100 = 15\%

So, the loss percentage is 15%.


3. Profit or Loss on Pencils

  • Cost Price per dozen = Rs. 10
  • Number of dozens = 150
  • Overhead expenses = Rs. 100
  • Selling Price per pencil = Rs. 1.20

First, calculate the total cost: Total C.P.=150×10+100=1500+100=Rs.1600\text{Total C.P.} = 150 \times 10 + 100 = 1500 + 100 = Rs. 1600

Next, calculate the total selling price: Total S.P.=150×12×1.20=1800×1.20=Rs.2160\text{Total S.P.} = 150 \times 12 \times 1.20 = 1800 \times 1.20 = Rs. 2160

Now, calculate the profit: Profit=S.P.C.P.=21601600=Rs.560\text{Profit} = \text{S.P.} - \text{C.P.} = 2160 - 1600 = Rs. 560

Finally, calculate the profit percentage: Profit Percentage=(5601600)×100=35%\text{Profit Percentage} = \left( \frac{560}{1600} \right) \times 100 = 35\%

So, Karim made a 35% profit.


4. Gain or Loss on Eggs

  • Buying Rate: 10 eggs for Rs. 8 → Cost per egg = 810=0.80\frac{8}{10} = 0.80 Rs.
  • Selling Rate: 8 eggs for Rs. 10 → Selling price per egg = 108=1.25\frac{10}{8} = 1.25 Rs.

Now, calculate the gain per egg: Gain per egg=1.250.80=Rs.0.45\text{Gain per egg} = 1.25 - 0.80 = Rs. 0.45

Now, calculate the gain percentage: Gain Percentage=(0.450.80)×100=56.25%\text{Gain Percentage} = \left( \frac{0.45}{0.80} \right) \times 100 = 56.25\%

So, the grocer made a 56.25% gain.


Do you need further details on any of the calculations or concepts?

Here are 5 related questions to practice:

  1. If a product is sold at a loss of 20%, and the selling price is Rs. 160, what was the cost price?
  2. A merchant buys goods for Rs. 500 and sells them for Rs. 600. Find the profit percentage.
  3. A seller buys 50 kg of sugar at Rs. 20 per kg and incurs Rs. 200 as transport cost. He sells the sugar at Rs. 25 per kg. What is his profit percentage?
  4. If a bicycle is bought for Rs. 1500 and sold for Rs. 1350, what is the loss percentage?
  5. A shopkeeper bought a TV for Rs. 5000 and sold it at a profit of 12%. What was the selling price?

Tip: To quickly find profit or loss percentages, always start with identifying the cost price and selling price.

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Math Problem Analysis

Mathematical Concepts

Profit and Loss
Percentage Calculations
Cost Price and Selling Price

Formulas

Profit Percentage = (Profit / Cost Price) * 100
Loss Percentage = (Cost Price - Selling Price) / Cost Price * 100
Profit = Selling Price - Cost Price
Gain Percentage = (Gain / Cost Price) * 100

Theorems

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Suitable Grade Level

Grades 6-8