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RD Sharma Solutions Class 7 Mathematics Solutions for Profit and Loss Exercise 12.1 in Chapter 12 - Profit and Loss
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A grain merchant sold 600 quintals of rice at a profit of 7%. If a quintal of ricecost him Rs 250 and his total overhead charges for transportation, etc. were Rs 1000 find his total profit and the selling price of 600 quintals of rice.
Answer:
Given Cost of 1 quintal of rice = Rs. 250
Cost of 600 quintals of rice = 600 x 250 = Rs. 150000
Overhead expenses = Rs. 1000
CP = Rs. (150000 + 1000) = Rs. 151000
Profit % = (Profit/CP) x 100
7 = (Profit /151000) x 100
Profit = 1510 x 7
Profit = Rs. 10570
Now SP = CP + profit
= Rs. (151000 + 10570)
SP = Rs. 161570
Video transcript
"hello students welcome to lido homework
so today's question let's see what it is
a green merchant sold 600 quintiles of
rice at a profit of seven percent
if a quintal of rice cost him rupees 250
and has total overhead charges for
transportation
etc where rupees 1000 find his total
profit
and the selling price of 600 quintils of
rice so he's making a seven
percent profit by selling 600 quintils
of rice
so you should work on solving the profit
as well as selling price for 600
quintils of rice
so let us uh the cost of one quintile of
rice
rice is only given so we need to first
calculate
600 kiloquintal of rice cost price
so cost price of
600 i'm writing q for quintile
of rice is
250 rupees i'm sorry
it's 250 rupees into
600 quintils which is equal to
1 lakh 50 000.
you already know the basic
multiplication and division so i don't
need to tell you now
in cost price even the overhead charges
count
so overhead is
1000 rupees right so therefore
you can write it as total
cost price
is equal to one lakh fifty
thousand plus thousand rupees
which equals rupees one lakh
fifty one thousand so we got the cost
price
okay we need to find the selling price
but before that let us find the profit
now we know given
that profit per cent
is equal to seven percent so
what is the formula for profit person p
by cos price in 200
is equal to seven now we don't know p
so we write it as it is but we know the
cost price
that is 1 lakh 51 000 so we write that
in denominator in 200
is equal to 7
so let me put a line in between and
then continue so this becomes
p is equal to this two zeros will get
cancelled
so p is equal to
seven into 1
5 1 0 right
so that is equal to when you calculate
you get it
as rupees 10
570 right so now we got
profit value also now we need to
calculate the
selling price so selling price
formula is equal to cost
price plus profit so cost price we
already know
that is 1 lakh 51 000
plus the profit is 10 570.
which is equal to rupees
one lakh sixty one thousand five hundred
and
seventy so we got both the values let us
write the solution step
therefore profit is
equal to 10
570 and
selling price is equal to rupees
one lakh sixty one thousand five hundred
and seventy
i hope i have made the solution very
clear but if you still have any doubts
you can put a message in comment section
and subscribe to our channel for further
updates thank you"
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