Profit and Loss Sums

A company sells a product for Rs. 500 with a profit of 20%. Calculate the cost price and the profit.

• The profit is the difference between the selling price and the cost price of the product.
• Let’s assume that the cost price of the product is ‘C’. The profit is 20% of the selling price:
• Profit = 20% of Selling price Profit = (20/100) x Rs. 500 Profit = Rs. 100
• Use the profit and selling price to calculate the cost price:
• Cost price = Selling price – Profit Cost price = Rs. 500 – Rs. 100 Cost price = Rs. 400
• Therefore, the cost price of the product is Rs. 400 and the profit is Rs. 100.

 

A shopkeeper buys a product for Rs. 200 and sells it for Rs. 250. Calculate the profit percentage and the profit amount.

• The profit can be calculated as the difference between the selling price and the cost price:
• Profit = Selling price – Cost price Profit = Rs. 250 – Rs. 200 Profit = Rs. 50
• Since the profit is positive, the shopkeeper made a profit on the sale.
• The profit percentage can be calculated as follows:
• Profit percentage = (Profit / Cost price) x 100 Profit percentage = (Rs. 50 / Rs. 200) x 100 Profit percentage = 25%
• Therefore, the shopkeeper made a profit of Rs. 50 on the sale, which is equivalent to a profit percentage of 25%.

 

A company sells a product for Rs. 500 with a profit margin of 20%. Calculate the cost price and the profit.

• cost price of the product is ‘C’. The profit margin is 20%, which means that the profit is 20% of the selling price:
• Profit = 20% of Selling price Profit = (20/100) x Rs. 500 Profit = Rs. 100
• Use the profit and selling price to calculate the cost price:
• Cost price = Selling price – Profit Cost price = Rs. 500 – Rs. 100 Cost price = Rs. 400
• Therefore, the cost price of the product is Rs. 400 and the profit is Rs. 100.

 

A company sells a product for Rs. 1000 with a loss margin of 10%. Calculate the cost price and the loss.

• cost price of the product is ‘C’. The loss margin is 10%, which means that the loss is 10% of the selling price:
• Loss = 10% of Selling price Loss = (10/100) x Rs. 1000 Loss = Rs. 100
• Use the loss and selling price to calculate the cost price:
• Cost price = Selling price + Loss Cost price = Rs. 1000 + Rs. 100 Cost price = Rs. 900
• Therefore, the cost price of the product is Rs. 900 and the loss is Rs. 100.

 

Now Solve these sums on your own

1. A shopkeeper buys a toy for Rs. 20 and sells it for Rs. 30. Calculate the profit percentage.
2. A shopkeeper sells a shirt for Rs. 50 with a profit of 25%. Calculate the cost price and the profit.