Question

A garment dealer buys for Rs.10,000 and spend Rs.800 on freight. He seeks the entire stock for Rs.12,960. Find his loss/profit percentage

Answer 1

Profit percentage
`=20\%`.

Explanation:

Given: A garment dealer buys goods for
`\text{Rs.}\:10,000` and spend
`\text{Rs.}\:800` on freight. He seeks the entire stock for
`\text{Rs.}\:12,960`.

To find: His loss/profit percentage.

Solution:

We have,

Cost price of goods
`=\text{Rs.}\:10,000`

Spent on freight
`=\text{Rs.}\:800`

So, total cost of goods
`=\text{Rs.}\:10000+\text{Rs.}\:800=\text{Rs.}\:10,800`

Selling price of entire stock
`=\text{Rs.}\: 12,960.`

Now, Profit
`=\text{Selling price}-\text{Cost price}`

So, Profit
`=\text{Rs.}\:12, 960-\text{Rs.}\:10,800=\text{Rs.}\:2160`

Now,

`\text{Profit\:\%}= \frac{\text{Profit}}{\text{Cost price}} * 100\%`

`\implies\text{Profit\:\%}= \frac{2160}{\text{10,800}} * 100\%`

`\implies\text{Profit\:\%}= (2160)/(108)\%`

`\implies\text{Profit\:\%}= 20\%`

Hence, profit percentage
`=20\%`.