Suraj buys toffees at the rate of 5 for Rs. 7 and sells at the rate of 3 for Rs. 4 then, find its profit% or loss%.

Question

Question

Answer 1

Given:

Suraj buys toffees at the rate of 5 for Rs. 7

And He sells toffees at the rate of 3 for Rs. 4

Formula:

Profit = S.P - C.P

Loss = C.P - S.P

Profit% = (Profit × 100)/C.P

Loss% = (Loss × 100)/C.P

Where, S.P = Selling Price, C.P = Cost Price

Calculation:

Let the number of toffees be 15 L.C.M of (5, 3)

⇒ Cost Price of 15 toffee = 15 × (7/5) = Rs. 21

⇒ Selling Price of 15 toffee = 15 × (4/3) = Rs. 20

⇒ Loss = C.P - S.P = 21 - 20

⇒ Loss = Re. 1

Loss% = (Loss × 100)/C.P

⇒ Loss% = (1 × 100)/21

⇒ Loss% = 100/21

∴ Suraj undergoes a loss of (100/21)%.

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