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If a man were to sell his handcart for Rs. 720, he would loss 25%. To gain 25%, the selling price is
To gain 25%, the selling price of the handcart should be Rs. 1200.
To find out the selling price required to gain 25%, we need to calculate the original cost price of the handcart.
Let’s denote:
- CP as the cost price of the handcart.
- SP as the selling price of the handcart.
Given that the selling price SP is Rs. 720 and there’s a loss of 25%, we can set up the equation:
720 = CP – 0.25CP
720 = 0.75CP
To find CP, we divide both sides by 0.75:
CP = 720 / 0.75
CP = 960
So, the original cost price of the handcart is Rs. 960.
Now, to gain 25%, we need to calculate the selling price SP with the new price:
SP = CP + 0.25 * CP
SP = 960 + 0.25 * 960
SP = 960 + 240
SP = 1200
Therefore, to gain 25%, the selling price of the handcart should be Rs. 1200.
Profit and Loss in Mathematics
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Profit: Profit is the financial gain obtained when the revenue earned from selling a product or service exceeds the cost incurred to produce or acquire that product or service. Mathematically, profit is calculated as follows: Profit = Revenue – Cost
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Loss: Loss occurs when the cost exceeds the revenue earned. In other words, when a business sells a product or service for less than it cost to produce or acquire it. Mathematically, loss is calculated as follows: Loss = Cost – Revenue
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Cost Price (C.P.): Cost price is the price at which an item is purchased or the cost incurred to produce it.
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Selling Price (S.P.): Selling price is the price at which an item is sold.
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Revenue: Revenue is the total amount of money received from sales of goods or services.
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Net Profit: Net profit is the profit after deducting all expenses, including taxes, from the revenue.
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Net Loss: Net loss is the loss after deducting all expenses from the revenue.
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Profit Percentage: Profit percentage is the percentage of profit earned on the cost price. It is calculated as: Profit Percentage = (Profit / Cost Price) * 100%
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Loss Percentage: Loss percentage is the percentage of loss incurred on the cost price. It is calculated as: Loss Percentage = (Loss / Cost Price) * 100%
These concepts are extensively used in various real-life scenarios such as business transactions, investment analysis, and financial planning. Understanding profit and loss is essential for making informed decisions in personal and professional financial matters.
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Source: Math Hello Kitty
Categories: Math
