Aptitude - Profit and Loss - Discussion
Discussion Forum : Profit and Loss - General Questions (Q.No. 1)
1.
Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
Answer: Option
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
| Gain % = |  |
300 | x 100 |  % |
= 5 | 5 | % |
| 5500 | 11 |
Discussion:
148 comments Page 6 of 15.
P.chongloi said:
9 years ago
300/55 gives the results as 5*25/55. 25/55 can be further cancelled out into 5/11.
So, the result is 5 * 5/11.
So, the result is 5 * 5/11.
Dhruv A said:
9 years ago
5 5/11 gives the result 5.454545 % if converted into a vulgar fraction.
Nischal said:
9 years ago
It is 25% @Aamir.
Arun HC said:
9 years ago
Gain% = (Gain * 100) / CP.
Where Gain = SP - CP.
Here CP = 4700 the price he bought the item but in the question, it is said that he spends 800 More on repair, therefore total amount he spends is CP + repairing cost = 4700 + 800 = 5500.
Therefore CP becomes 5500 (Amount he spent for purchasing as well as for repairing)
SP = 5800 (Given).
Gain = SP - CP.
=> 5800 - 5500 = 300.
Gain% = (Gain * 100) / CP.
=> (300 * 100) / 5500,
=> 300 / 55,
=> 5.454545%.
Where Gain = SP - CP.
Here CP = 4700 the price he bought the item but in the question, it is said that he spends 800 More on repair, therefore total amount he spends is CP + repairing cost = 4700 + 800 = 5500.
Therefore CP becomes 5500 (Amount he spent for purchasing as well as for repairing)
SP = 5800 (Given).
Gain = SP - CP.
=> 5800 - 5500 = 300.
Gain% = (Gain * 100) / CP.
=> (300 * 100) / 5500,
=> 300 / 55,
=> 5.454545%.
Kiran Giri said:
9 years ago
The correct answer is 5.45%.
Veerakumar said:
9 years ago
Gain formula is (s.p) > (c.p).
Then apply the formula.
Gain = (300/5500 x 100).
Ans = (5 x 5/11)% gain.
Then apply the formula.
Gain = (300/5500 x 100).
Ans = (5 x 5/11)% gain.
Belekiran said:
9 years ago
Thank you all for explanation and simplification.
Nice method, Thanks @Munna.
Nice method, Thanks @Munna.
Kenchappa said:
9 years ago
Please, Could anyone tell me any shortcut way of solving this type of problems?
Madhusudhana rao said:
9 years ago
Please tell me the shortcut to solve this.
Rango said:
9 years ago
@Sudhakar.
The selling price is Rs 115.
Cost price is Rs 100.
Actually, profit is 15.
Then, % of profit is 15.
The selling price is Rs 115.
Cost price is Rs 100.
Actually, profit is 15.
Then, % of profit is 15.
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