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Question

A person incurs a loss of 10% by selling a watch for Rs. 450. At what price should the watch be sold to earn 10% profit?

The correct answer is
Rs. 550

This question asks us to find the selling price of a watch that ensures a 10% profit, given the initial selling price was Rs. 450 resulting in a 10% loss.

Calculating Cost Price from Loss

First, we need to determine the original cost price (CP) of the watch. We know that selling the watch for Rs. 450 resulted in a 10% loss.

The formula relating Selling Price (SP), Cost Price (CP), and Loss Percentage (Loss%) is:

SP = CP * (100 - Loss%) / 100

We are given:

  • SP = Rs. 450
  • Loss% = 10%

Plugging these values into the formula:

Rs. 450 = CP * (100 - 10) / 100

Rs. 450 = CP * (90 / 100)

To find the CP, we rearrange the formula:

CP = Rs. 450 * (100 / 90)

CP = Rs. 450 * (10 / 9)

CP = Rs. 50 * 10

CP = Rs. 500

So, the cost price of the watch is Rs. 500.

Calculating Selling Price for Profit

Next, we need to find the selling price (let's call it SP') that would yield a 10% profit. We will use the cost price we just calculated (Rs. 500).

The formula relating Selling Price (SP), Cost Price (CP), and Profit Percentage (Profit%) is:

SP' = CP * (100 + Profit%) / 100

We have:

  • CP = Rs. 500
  • Profit% = 10%

Plugging these values into the formula:

SP' = Rs. 500 * (100 + 10) / 100

SP' = Rs. 500 * (110 / 100)

SP' = Rs. 500 * (11 / 10)

SP' = Rs. 50 * 11

SP' = Rs. 550

Therefore, the watch should be sold for Rs. 550 to earn a 10% profit.

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Important Questions from Profit & Loss (Notes)

  1. Two bikes were sold for a total of ₹ $1,50,000$. One bike was sold at $33\frac{1}{3}\%$ loss and the other at $20\%$ profit. The cost price of the first bike is equal to the selling price of the other bike. Find the over all loss.

  2. What will be the profit percentage on selling an article at a certain price if there is $30\%$ loss on selling the article at $\frac{3}{5}$ of the selling price?

  3. A shopkeeper bought an item for ₹7825 and marked it at 30% higher than the cost price. If he sells the item by allowing 20% discount, then his profit percentage will be :
  4. A bought an article at a certain price and sold it at 10% profit. B bought the same article at a price 10% lesser than A and sold it at ₹18 lesser than A. B's gain percentage in this deal is 20%. At what price B bought the article?
  5. 100 पुस्तकों का क्रय मूल्य 60 पुस्तकों के विक्रय मूल्य के बराबर है । लाभ प्रतिशत _______________ होगा ।

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