Question

A man sells a calculator at the rate of Rs. 250 each which includes a profit of 14 percent. What amount of profit will he earn in 19 days if he sells seven calculators per day?

Answer 1

Hint:First find the profit on one calculator by finding the cost price of one calculator using the formula:
Cost price$ = \left( {\dfrac{{100}}{{100 + {\text{profit % }}}}} \right) \times SP$.
Then find the profit per day on the selling of 7 seven calculators and then find the profit on the selling of 19 days, which is the desired result.


Complete step-by-step answer:
It is given in the problem that a man sells calculators at the rate of Rs. 250 each which includes a profit of 14 percent and he sells seven calculators per day.
We have to find the amount of profit he will earn in 19 days.
First, find the cost price of one calculator using the formula of the cost price:
Cost price$ = \left( {\dfrac{{100}}{{100 + {\text{profit % }}}}} \right) \times SP$
We have given:
Selling Price of one calculator (SP)$ = Rs.250$
Profit percent on one calculator$ = 14% $
So, the cost price of one calculator is given as:
Cost price $ = \left( {\dfrac{{100}}{{100 + 14}}} \right) \times 250$
Cost price $ = 219.30$
So, the cost price of the calculator is Rs. $219.30$.
Then the profit on one calculator is given as:
Profit$ = SP - CP$
Profit $ = 250 - 219.30$
Profit $ = 30.7$
So, the profit on one calculator is Rs.\[30.7\].
It is given that man sells seven calculators per day, then the profit per day is given as:
Profit per day$ = 7 \times \left( {{\text{profit on one calculator}}} \right)$
Profit per day$ = 7 \times 30.7$
Profit per day $ = 214.9$
So, the profit per day on the selling of seven calculators is Rs. $214.9$.
As we have to find the profit on the selling of 19 days, then
Total profit$ = 19 \times \left( {{\text{profit on one day}}} \right)$
Total profit $ = 19 \times 214.9$
Total profit $ = 4083.1$
So, the total profit on the selling of 9 days is Rs. $4083.1$.

Note:For finding the profit on one calculator, we should first find the cost price of one calculator and then the profit on one calculator and we can also use the formula that directly gives the profit using the formula:
Profit$ = SP\left( {1 - \dfrac{{100}}{{100 + {\text{Profit % }}}}} \right)$.