Question

1. Raman bought a dining set for Rs. 18750 and sold it for Rs. 21380. How much profit did he make?
2. Rukmani made a loss of Rs.3620 when he sold her laptop at Rs. 21320. What was the cost price of the laptop?

Answer 1

Hint: In the given question we have two parts, in the first part we have to find profit made and in the second part we have to find the cost price. So, in order to solve such question, we have to identify the cost price of the article and the selling price as well. In the first part the cost price of the dining set is Rs. 18750 and the selling price of the same is Rs. 21380. As here we see that cost price is less than selling price. So, by subtracting cost price from selling price we get the profit. In second part of the question loss occurred as Rs. 3620, and the selling price is Rs. 21320.
As loss occurs the cost price is the sum of selling price and loss.

Complete step by step answer:
For first part
Cost price of dining set $=\text{ Rs}\text{. }18750$
Selling price of dining set $=\text{ Rs}\text{. 21380}$
As we see here
$\text{selling price > cost price}$
Hence profit occurs. As we know that,
$\text{profit= selling price-cost price}$
Hence, we can write
$\begin{align}
  & \text{profit= 21380-18750} \\
 & \text{profit= 2630} \\
\end{align}$
So, profit made is Rs. 2630.
For second part
Loss $=\text{ Rs}\text{. 3620}$
Selling price $=\text{ Rs}\text{. 21320}$
As we know that
$Loss=\text{ Cost price - selling price}$
So, we can write
\[\begin{align}
  & 3620=\text{ Cost price - 21320} \\
 & \text{cost price=3620+21320} \\
 & \text{cost price=24940} \\
\end{align}\]
So, the cost price of Laptop is Rs. 24940.

Note:
It is important to note that
The price at which article is purchased, is called its cost price.
The price at which the article is sold, is called the selling price.
When selling price is more than cost price profit occurred and when selling price is less than cost price loss occurred.