Profit Loss Problems
Can someone please help me with these two profit loss problems?
1. A trader marks the selling price of an article at 10% above the cost price. At the time of selling, he allows a certain discount & suffers a loss of 1%. How much discount did he give?
2. At what profit % must an article must be sold so that by selling at half that price there may be a loss of 30%?
if he suffers a loss of 1%, he sold it for 99% of the purchase price.
if the purachase price of P, then:
1.1P * (1-D) = 0.99P
1-D = 0.99/1.1
D = 0.1
2. uses the same kinds of principle, have a go and see how far you can get.
Thanks buddy for your help. I tried the second one but couldn't get it. Can you please show me how to do it?
OK....this is how I tried the second problem but am not sure if it is right....
Let selling price (SP) be 100
Half the SP means SP=50
Is it correct?
Now your getting the hang of it :D
As you practice mroe, youll be able to write these down in only 1 or two lines:
If the cost price is x and the profit percentage is p then
final sale price = (1+p)x*0.5
And we want the final sale price to be 70% of x.
(1+p)x*0.5 = 0.7x