Calculating Overall Profit or Loss
This problem involves determining the financial outcome (profit or loss) from selling a set of items after calculating the total cost and total revenue.
Understanding Cost Price (CP) and Selling Price (SP)
- Total Cost Price (CP): The total amount paid to buy the watches.
CP = Rs. 4,500
- Individual Selling Prices (SP): The amounts received from selling each watch.
- Watch 1 SP = Rs. 1,800
- Watch 2 SP = Rs. 1,700
- Watch 3 SP = Rs. 1,600
Calculating Total Selling Price (SP)
Sum the selling prices of all the watches to find the total revenue generated.
- Total SP = SPWatch 1 + SPWatch 2 + SPWatch 3
- Total SP = Rs. 1,800 + Rs. 1,700 + Rs. 1,600
- Total SP = Rs. 5,100
Determining Profit or Loss
Compare the Total SP with the Total CP.
- If Total SP > Total CP, there is a profit.
- If Total SP < Total CP, there is a loss.
In this case, Total SP (Rs. 5,100) is greater than Total CP (Rs. 4,500).
Calculating the Profit Amount
The profit is the difference between the Total SP and the Total CP.
- Profit = Total SP - Total CP
- Profit = Rs. 5,100 - Rs. 4,500
- Profit = Rs. 600
Therefore, there is an overall profit of Rs. 600.
Similar Questions
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Important Questions from Profit and Loss
Ram bought a chair at 35% discount on its market price, Had Ram got no discount, he would have had to pay ₹245 more. How much did Ram pay for the chair?
A shopkeeper bought an item for Rs. 4,500 and sold it at a loss of 5%. From this money, he bought another item and sold it at a profit of 10%. What is his overall profit?
A man sells two articles at Rs. 9,180 each. He gains 8% on one article and loses 15% on the other. His overall profit or loss is:
A shopkeeper selling an article for ₹46 loses 8%. In order to gain 6%, what should be the selling price of the article?
Rahul purchased 80 items from the market. 25% items of the total items were defective and the remaining items were sold at 50% profit. What will be the overall profit percentage?
