Question

There is a profit of Rs. 225 on selling a table for Rs. 2400. What is the profit or loss, if the same table is sold for Rs. 2250?

Answer 1

Hint: This question is from the topic of profit, loss and discount. In solving this question, we will first find out the cost price of the table using the selling price as Rs. 2400 and profit as Rs. 225. After finding the cost price of the table, we will find the profit or loss if the table is sold at Rs. 2250.

Complete step by step solution:
Let us solve this question.
In this question, we have asked to find the profit or loss made by selling the table at RS. 2250. We have given that on selling the same table for Rs. 2400, there is a profit of Rs. 225.
We can say that if
Selling Price = S.P. = Rs. 2400
And
Profit = Rs. 225
Then,
Selling Price – Cost Price = Profit
Or, we can write
S.P. – C.P. = Profit
By putting the values of S.P. and Profit, we can write
\[\Rightarrow 2400-\text{C}\text{.P}\text{.}=225\]
The above can also be written as
\[\Rightarrow \text{C}\text{.P}\text{.}=2400-225\]
\[\Rightarrow \text{C}\text{.P}\text{.}=2175\]
Hence, we can say that the Cost Price or C.P. of the table is Rs. 2175
Now, to find the profit or loss for selling price of a table as Rs. 2250, we will have to check if it will be profit or loss.
So, selling price that is Rs. 2250 is greater than cost price of the table that is Rs. 2175
So, there will be profit.
Hence, we can write
Selling Price – Cost Price = Profit
\[\Rightarrow 2250-2175=\text{Profit}\]
The above equation can also be written as
\[\Rightarrow \text{Profit}=\text{75}\]

Hence, we get that on selling the table at Rs. 2250, there is a profit of Rs. 75.

Note: We should have a better knowledge in the topic profit, loss, and discount to solve this type of question easily. Remember the following formulas for solving this type of question:
S.P. – C.P. = Profit
C.P. – S.P. = Loss
Where, S.P. = Selling Price
And, C.P. = Cost Price
And remember that
If S.P. is greater than C.P., then there will be profit
And, if C.P. is greater than S.P., then will be loss.