Question

For \[12\] dozen guavas bought for Rs. $864$ were sold for Rs.$6.50$ each. How much is the profit or loss?

Answer 1

Hint: The given question asks us to find the profit or loss incurred on the transaction, first we will need to find the selling price for the whole outlay using the rate of Rs.$6.50$ each. The total for $12$ dozens of guavas will be calculated. The next important thing will be to find the profit or loss that will depend on the selling price and the cost price. If the cost price is more then loss will be incurred, and if the selling price is more than the cost price then there is profit, the profit or loss will be found by subtracting the selling price from the cost price.

Complete answer: We have to find the selling price of the $12$ dozen guavas in the whole transaction.
The selling price of one guava is Rs.$6.50$, since each dozen has $12$ units and there are $12$ dozens the selling price of the $12$ dozen guavas will be given by,
$S.P. = 6.50 \times 12 \times 12$
$S.P = 936$,
We can see that the selling price is more than the cost price and hence we can say that there will be profit , the profit will be given by difference between cost price and selling price,
$\operatorname{P} = 936 - 864$
$P = 72$
Profit on the whole outlay will be Rs.$72$

Note:
If in the question it was given to find the profit or loss percent instead of the profit and loss, we would have used the formula for calculating profit or loss percent, the formula is given by,
$P/L\% = \dfrac{{P/L}}{{C.P.}} \times 100$
Where $P/L\% $ is the profit or loss percent and $C.P.$ is the cost price of the outlay.