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Math Help - Profit Loss Problems

  1. #1
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    Question 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%?


    Thanks,

    Ron
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  2. #2
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    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
    D= 10%

    2. uses the same kinds of principle, have a go and see how far you can get.
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  3. #3
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    Thanks buddy for your help. I tried the second one but couldn't get it. Can you please show me how to do it?

    Thanks,

    Ron
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  4. #4
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    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
    Loss%=30%
    Cost Price=CP

    Loss%=(CP-SP)/CP*100
    30=(CP-50)/CP*100
    CP=500/7

    Profit%=(SP-CP)/CP*100
    Now SP=100
    Profit%=[(100-500/7)/(500/7)]*100
    Profit%=40%

    Is it correct?

    Thanks,

    Ron
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  5. #5
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    Now your getting the hang of it


    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
    (1+p)=0.7/0.5
    p=0.4
    p=40%
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