Questions & Answers

I buy a T.V for Rs 10,000 and sell it at a profit of 20%. How much money do I get for it?

Answer Verified Verified
Hint: Here, we will be proceeding by finding out the amount of profit gained and then finding out the selling price.

Given, cost price of T.V i.e., ${\text{C}}{\text{.P}} = {\text{Rs }}10000$
When he sold the T.V, the profit obtained on T.V i.e., ${\text{Profit percentage}} = 20\% $
Profit amount gained, ${\text{Profit amount}} = \left( {\dfrac{{{\text{Profit percentage}}}}{{100}}} \right) \times {\text{C}}{\text{.P}} = \left( {\dfrac{{{\text{20}}}}{{100}}} \right) \times \left( {10000} \right) = {\text{Rs }}2000$
Therefore, selling price is ${\text{S}}{\text{.P}} = {\text{C}}{\text{.P}} + \left( {{\text{Profit amount}}} \right) = 10000 + 2000 = {\text{Rs }}12000$
Hence, the money which he will get after selling the T.V is Rs 12,000.

Note- In this question if instead of profit, there would have been loss then the formulas used would be ${\text{Loss amount}} = \left( {\dfrac{{{\text{Loss percentage}}}}{{100}}} \right) \times {\text{C}}{\text{.P}}$ and ${\text{S}}{\text{.P}} = {\text{C}}{\text{.P}} - \left( {{\text{Loss amount}}} \right)$.

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