Sukrit purchased an item for ₹650 and sold it at a profit of 26%. At what price (in ₹) did Sukrit sell the item?
Understanding the Item Purchase and Sale
This problem asks us to find the final selling price of an item. We are given the initial purchase price (also called the cost price) and the percentage of profit made when the item was sold.
- Cost Price (CP): ₹650
- Profit Percentage: 26%
Calculating the Profit Amount
Profit is the extra amount earned on top of the cost price. To find the actual profit amount in rupees, we calculate 26% of the cost price (₹650).
The formula to calculate profit amount is:
$$ \text{Profit Amount} = \text{Cost Price} \times \frac{\text{Profit Percentage}}{100} $$
Plugging in the values:
$$ \text{Profit Amount} = 650 \times \frac{26}{100} $$
$$ \text{Profit Amount} = 650 \times 0.26 $$
Let's calculate this:
$$ \text{Profit Amount} = 169 $$
So, Sukrit made a profit of ₹169.
Determining the Selling Price
The selling price is the price at which the item was sold. It is calculated by adding the profit amount to the original cost price.
The formula for the selling price is:
$$ \text{Selling Price (SP)} = \text{Cost Price (CP)} + \text{Profit Amount} $$
Using the values we have:
$$ \text{SP} = 650 + 169 $$
$$ \text{SP} = 819 $$
Therefore, Sukrit sold the item for ₹819.
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?
