EXERCISE 13.1 PAGE NO: 13.11
1. A student buys an office table for 900 euro and sells it for 1000. Find his gain and gain percent.
Solution:
We know that the cost price of the table = 90
Selling price = 100
By using the formula,
Gain = selling price – cost price
= 1000 – 900
= 100
By using the formula,
Gain % = (gain/cost price) × 100
= (100/900) × 100
= 100/9
= 11 1/9 %
2. Mary bought a car for 12400 euro and sold it for 11470. Find her loss and loss percent.
Solution:
We know that the cost price of car = 12400
Selling price of car = 11470
By using the formula,
Loss = cost price – selling price
= 12400 – 11470
= 930
By using the formula,
Loss % = (loss/cost price) × 100
= (930/12400) × 100
= 7.5 %
3. The cost price of 10 kgs of a certain variety of apples is equal to the selling price of 9 kgs of the same apples. Find the profit percent.
Solution:
We know that the cost price of 10 kgs = selling price of 9 kgs
Let us consider CP of 1 kg as X euro
Selling price of 9 kgs = 10X
Selling price of 1 kg = 10x/9
Profit = 10x/9 – x
= x/9
Profit % = Gain % = (gain/cost price) × 100
= (x/9)/x × 100
= 100/9
= 11 1/9%
4. A retailer buys a bicycle for 225 euro. His overhead expenses are 15 euro. If he sells it for 300 euro, determine his profit percent.
Solution:
The cost price of a bicycle = 225
Overhead expenses = 15
Total cost = cost price + overhead expenses = 225+15 = 240
Selling price = 300
By using the formula,
Gain = selling price – cost price
= 300 – 240 = 60
By using the formula,
Gain % = (gain/cost price) × 100
= 60/240 × 100
= 25 %
5. A merchant bought two cars for $13000. He sold one car at a profit of 20% and the other at a loss of 12%. If the selling price of both cars is the same, find the cost price of each car.
Solution:
We know the cost price of two cars = $13000
So let us consider cost price of one car be $ x
Cost price of other car = $( 13000 – x )
Selling price of first car = x + x × 20/100
= x + x/5
= 6x/5
Selling price of second car = (13000 – x) – (13000 – x) × 12/100
By equating Selling Price of first and second car we get,
6x/5 = (13000 – x ) × 88/100
1.2x = 13000 × 0.88 – 0.88x
1.2x + 0.88x = 11440
2.08x = 11400
x = 11400 / 2.08
= 5480
∴ Cost price of first car = $5480
Cost price of second car = 13000 – 5480 = $7520