Question

Kantabai bought 25 cans from a wholesale merchant for 10000 and sold them all at 460 each. How much profit or loss did Kantabai get in this transaction?

Answer 1

Hint: Multiply the total number of cans bought with he cost of per can and then compare it with the Cost price in which the merchant bought it, if the cost price is greater than sell price then its a loss for the merchant and if the sell price is greater than the cost price then its a profit for the merchant.

Complete step by step answer:
We know that the sell price will be cost per item multiplied by total number of items
Here the cost per item is given as Rs.460
Total number of items is given as 25
Now Total cost becomes \[460 \times 25 = 11500\]
Hence, We can clearly see that 11500>10000
Which means that sell price > cost price
Then we can say that the merchant has a profit and to find the profit we will do
Sell Price - Cost Price \[ = 11500 - 10000 = 1500\]
Which means that the merchant has gained a profit of 1500

Note:
It should be noted that, if cost price is denoted as CP and sale price as SP then \[loss = SP - CP\] and \[profit = CP - SP\] Which only makes sense because in loss CP > SP and in profit SP > CP.