Profit and Loss Based Question

Question

Raju calculated his profit percentage on the selling price and claimed it to be 100/3.Find the actual profit percentage

Answer 1

Pramod:

 

Let P be the actual price and S be the selling price.  Profit is S - P.  Raju (a beginner in business, poor fellow!) calculated his profit percentage as (S-P)/S x 100, which is given to us as equal to 100/3.  Hence (S-P)/S = 1/3.

 

(S-P)/S = 1 - P/S = 1/3

 

P/S = 2/3

 

S = (3/2)P

 

S- P =    (1/2)P

 

Profit, as a percentage of P, is [(1/2)P/P]x100 = 50 per cent!!!

 

Dattaprabhakar (Dr. G.)