Calculating X's Profit in Car Resale
This solution outlines the step-by-step calculation to determine X's total profit from the described car transactions.
Step 1: Calculate X's First Selling Price
X initially bought the car for a cost price (CP) of ₹1,50,000 and sold it to Y at a 5% profit.
- Calculate the profit amount:
Profit = $5\% \times \text{₹}1,50,000 = \frac{5}{100} \times 1,50,000 = \text{₹}7,500$
- Calculate the selling price (SP1) to Y:
SP1 = CP + Profit = ₹1,50,000 + ₹7,500 = ₹1,57,500
Y purchased the car for ₹1,57,500. This is Y's cost price.
Step 2: Calculate Y's Selling Price Back to X
Y sold the car back to X at a 1% loss on Y's cost price.
- Calculate the loss amount for Y:
Loss = $1\% \times \text{₹}1,57,500 = \frac{1}{100} \times 1,57,500 = \text{₹}1,575$
- Calculate the selling price (SP_Y) from Y to X:
SP_Y = Y's CP - Loss = ₹1,57,500 - ₹1,575 = ₹1,55,925
X bought the car back for ₹1,55,925.
Step 3: Determine X's Overall Profit
X's total profit is the net difference between the money received from Y and the money paid back to Y. Since X ends up with the car again, this net cash difference represents the profit.
- Calculate X's net cash gain:
X's Profit = Amount Received (SP1) - Amount Paid Back (SP_Y)
X's Profit = ₹1,57,500 - ₹1,55,925 = ₹1,575
X made a profit of ₹1,575 in the entire transaction.
Similar Questions
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Important Questions from Profit and Loss
By selling an article for Rs. 2,200, a profit of 10% is earned. If the same article is sold for Rs. 2,600, then what will be the gain percentage?
By selling an article for Rs. 640, a person loses 15% of its selling price. At what price (in Rs.) should he sell it to gain 15% on its cost price?
The selling prices of articles A and B are the same. A is sold at a profit of 28 percent and B is sold at a loss of 24 percent. If the total selling price of the both articles is Rs. 48640, then what is the cost price of A and B, respectively ?
The cost price of an article is Rs. 2800. Profit as a percentage of selling price is 20 percent. What is the actual profit (in Rs.) ?
A trader bought 640 kg of rice. He sold a part of rice at 20% profit and the rest at 5% loss. He earned a profit of 15% in the entire transaction. What is the quantity (in kg) of rice that he sold at 5% loss?
