Determining Ram's Watch Profit Percentage
This question asks us to calculate the total profit or loss percentage Ram experienced. We need to find out how much profit he made relative to the price he actually paid for the watch.
Step 1: Calculate Ram's Purchase Cost
First, let's establish a baseline for the watch's cost. We can assume the Original Cost (OC) is 100 units. Ram bought the watch for $\frac{9}{10}^{th}$ of this amount.
Ram's actual Purchase Cost (CP) is calculated as:
CP = $\frac{9}{10} \times \text{Original Cost}$
If OC = 100, then:
CP = $\frac{9}{10} \times 100 = 90$ units.
Step 2: Calculate Ram's Selling Price
Next, we determine the price Ram sold the watch for. He sold it for 8% more than the Original Cost.
Selling Price (SP) = Original Cost + (8% increase on Original Cost)
SP = $OC + ( \frac{8}{100} \times OC )$
Using OC = 100:
SP = $100 + ( \frac{8}{100} \times 100 ) = 100 + 8 = 108$ units.
Step 3: Calculate the Profit Amount
Profit is the difference between the selling price and the cost price Ram paid.
Profit = Selling Price (SP) - Purchase Cost (CP)
Profit = $108 - 90 = 18$ units.
Since the selling price (108) is higher than the purchase cost (90), Ram made a profit.
Step 4: Calculate the Profit Percentage
The profit percentage is calculated based on the price Ram actually paid (his Purchase Cost, CP).
Profit Percentage = $ ( \frac{\text{Profit}}{\text{Purchase Cost (CP)}} ) \times 100 $
Profit Percentage = $ ( \frac{18}{90} ) \times 100 $
Simplify the fraction:
Profit Percentage = $ ( \frac{1}{5} ) \times 100 $
Profit Percentage = $20\%$
Result: Ram's Gain
Ram made a 20% profit on the watch.
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?
