Question 1

Ritesh sold a pen for Rs. 36 with a profit of 20%. If it were sold for Rs. 33. then what could be the percentage of profit or loss?

Solution

As per the given data,

Let the cost price of the pen be Rs.x

⇒ Profit % = $$\frac{(SP - CP)}{CP}100$$

⇒ 20 =$$\frac{(36-x)}{x}100$$

⇒ 20x = 3600 - 100x

⇒ 120x = 3600

⇒ x = 30

∴ Cost price of the pen is Rs.30

Also given that he sold the pen at Rs.33

By comparing with cost price of the pen Rs.30 with selling price of the pen Rs.33, we can say it as profit

⇒ Profit % =$$\frac{(33 - 30)}{30}100$$ = 10 %

∴ Percentage of profit is 10%