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RD Sharma Solutions Class 8 Mathematics Solutions for Profit Loss Discount and Value Added Tax Exercise 13.1 in Chapter 13 - Profit Loss Discount and Value Added Tax
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A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If he sells the cooler for Rs 1550, determine his profit percent.
Answer:
We know the cost price of cooler = Rs 1200
Overhead expenses = Rs 40
Total cost = Rs 1200 + Rs 40 = Rs 1240
Selling price of cooler = Rs 1550
By using the formula,
Gain = selling price – cost price
= Rs 1550 - Rs1240
= Rs 310
By using the formula,
Gain % = (gain/cost price) × 100
= 310/1240 × 100
= 25%
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