A cement company earns a profit of Rs.8 per bag of white cement sold and a loss of Rs.5 per bag of grey cement sold. If the company sells 3,000 bags of white cement and 5,000 bags of grey cement in a month. What is its profit or loss?
Hint: Here we go through by finding the total profit that is gained by selling the white cement bag at the profit of Rs.8 per bag and then subtract the total loss by selling the grey cement bag at the loss of Rs.5 per bag to find it is in loss or in profit.
Complete step-by-step answer: Here in the question it is given that a cement company earns a profit of Rs.8 per bag on white cement. So for finding the total profit on 3000 bags multiply it by Rs.8. i.e. the total profit on white cement bag$ = Rs.8 \times 3000 = Rs.24000$ And now in the question it is given that a cement company sold on a loss of Rs.5 per bag of grey cement. So for finding the total loss on 5000 bags multiply it by Rs.5. i.e. the total loss on white cement bag$ = Rs.5 \times 5000 = Rs.25000$ Now for finding the overall loss or gain we subtract the total loss from the total profit. i.e. Rs.24000-Rs.25000=-Rs.1000 Here the result comes out negative so we can say that there is an overall loss of Rs.1000 on a cement company. $\therefore $Loss=Rs.1000.
Note: Whenever we face such type of a question the key concept for solving the question is, first find out the total profit earn by the salesman on selling the product and then find out the total loss by selling the other products then always subtract the total loss from the total profit if the answer comes out is positive then we can say there is an overall profit if the answer comes out negative then we say there is an overall loss.