Question

A man bought \[40\] tables at the rate of Rs. \[50.00\] each. He kept \[4\] tables for his use and sold the other at the rate of Rs. \[65.00\] each. Find his gain or loss.

Answer 1

Hint: To solve this question, we will start with finding the cost price of forty tables, then we will find the selling price of thirty-six tables as the man kept four tables for himself. Then after getting the selling price and the cost price of the tables, we will check whether the man gained or lost. Hence, we will get our required answer.

Complete step-by-step answer:
We have been given that a man bought \[40\] tables at the rate of Rs. \[50.00\] each. It is given that he kept \[4\] tables for his use and sold the other tables at the rate of Rs. \[65.00\] each. We need to find whether he gains or loses.
So, we have been given that the man bought \[40\] tables at the rate of Rs. \[50.00\] each
Therefore, the cost price of forty tables \[ = \;40{\text{ }} \times {\text{ }}50\]
\[ = {\text{ }}Rs.{\text{ }}2000\]
Now, it is given that he kept \[4\] tables for his use and sold the other tables at
the rate of \[Rs.{\text{ }}65.00\] each.
So, the tables left for selling \[ = {\text{ }}40{\text{ }} - {\text{ }}4{\text{ }} = {\text{ }}36\]
Therefore, selling price of \[36\] tables \[ = {\text{ }}36{\text{ }} \times {\text{ }}65\]
\[ = {\text{ }}Rs.{\text{ }}2340\]
We know that, Profit \[ = \] Selling price \[-\] Cost price and
Loss \[ = \] Cost price \[-\] selling price
Now, the selling price \[-\] cost Price \[ = {\text{ }}Rs.{\text{ }}\left( {2340{\text{ }} - {\text{ }}2000} \right)\]
\[ = {\text{ }}Rs.{\text{ }}340\]
So, selling price > cost price, therefore the man gained.
Thus, he gained \[Rs.{\text{ }}340.\]

Note: In the solutions, we have mentioned about selling price and cost price. Cost price is the price at which something is bought, while selling price is the price at which something is sold. If the selling price is greater than the cost price, then there is a profit. If the cost price is greater than selling price that means there is a loss.