Question

Anuja purchased a second-hand refrigerator for Rs 9800. She spent Rs 600 on its repairs and sold it at a profit of 8%. Find the selling price of the refrigerator and the amount of money she gained.

Answer 1

Hint: First, find the total cost price of the refrigerator by adding the purchase price and the amount spent on its repairs. Now, apply the profit percent formula, $\dfrac{{SP - CP}}{{CP}} \times 100$, where SP is the selling price and CP is the cost price. Substitute the values in the formula and do simplification to get the desired result.

Complete step-by-step solution:
Given: - Anuja buys a second-hand refrigerator for Rs 9800.
Spent on its repair = Rs. 600
Then, the total price spent on the refrigerator is,
$ \Rightarrow 9800 + 600 = 10400$
Now, the profit of selling the refrigerator is 8%.
Let the selling price of the refrigerator be Rs $x$.
As we know, the profit percent can be calculated by the formula,
$P\% = \dfrac{{SP - CP}}{{CP}} \times 100$
Where $P\% $ is the profit percent.
SP is the selling price.
CP is the cost price.
Substitute the values in the formula,
$ \Rightarrow 8 = \dfrac{{x - 10400}}{{10400}} \times 100$
Cancel out the common factors,
$ \Rightarrow 8 = \dfrac{{x - 10400}}{{104}}$
Cross multiply the terms,
$ \Rightarrow 832 = x - 10400$
Move the constant part on the other side,
$ \Rightarrow x = 832 + 10400$
Add the terms on the right side,
$\therefore x = 11232$
Now, the amount of money she gained can be calculated by subtracting the total cost price from the selling price.
$P = SP - CP$
Substitute the values,
$ \Rightarrow P = 11232 - 10400$
Subtract the values,
$ \Rightarrow P = 832$

Hence, the selling price and amount of money she gained on the refrigerator is Rs. 10400 and Rs. 832.

Note: ost Price: The price at which an article is purchased, is called its cost price (C.P.).
Selling Price: The price at which an article is purchased is known as its selling price (S.P.).
Profit or Gain: If SP is greater than CP then the seller is said to have profit or gain.
\[Profit = SP - CP\]
\[Profit\% = \dfrac{{Profit}}{{CP}} \times 100\]