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Example 7 - Meenu bought two fans for Rs 1200 each. She sold one

Example 7 - Chapter 8 Class 8 Comparing Quantities - Part 2
Example 7 - Chapter 8 Class 8 Comparing Quantities - Part 3
Example 7 - Chapter 8 Class 8 Comparing Quantities - Part 4
Example 7 - Chapter 8 Class 8 Comparing Quantities - Part 5

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Example 7 Meenu bought two fans for Rs 1200 each. She sold one at a loss of 5% and the other at a profit of 10%. Find the selling price of each. Also find out the total profit or loss. Given, Number of fans purchased = 2 Cost Price of 1 fan = Rs 1200 ∴ Total Cost Price (CP) = Number of bulbs purchased × Cost Price of 1 Bulb = 2 × 1200 = 2400 ∴ CP = Rs 2400 Total Selling Price (SP) = Selling Price of First fan + Selling Price of Second fan Selling Price of First Fan Cost Price = 1200 Loss Percentage = 5% Now, Loss Percentage = 𝐿𝑜𝑠𝑠/(𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒) × 100 5 = 𝐿𝑜𝑠𝑠/1200 × 100 (5 × 1200)/100 = loss 5 × 12 = Loss 60 = Loss ∴ Loss = 60 Selling Price of Second Fan Cost Price = 8000 Profit Percentage = 10% Now, Profit Percentage = 𝑃𝑟𝑜𝑓𝑖𝑡/(𝐶𝑜𝑠𝑡 𝑃𝑟𝑖𝑐𝑒) × 100 10 = 𝑃𝑟𝑜𝑓𝑖𝑡/1200 × 100 10 = 𝑃𝑟𝑜𝑓𝑖𝑡/12 10 × 12 = Profit 120 = Profit ∴ Profit = 120 We know that, Loss = Cost Price − Selling Price 60 = 1200 − Selling Price Selling Price = 1200 − 60 ∴ Selling Price = 1140 We know that, Profit = Selling Price − Cost Price 120 = Selling Price − 1200 120 + 1200 = Selling Price 1320 = Selling Price ∴ Selling Price = 1320 ∴ Selling Price of first fan = Rs 1140 & Selling Price of Second fan = Rs 1320 Putting the values in equation (1), Total Selling Price (SP) = Selling Price of first fan + Selling Price of Second fan = 1140 + 1320 = 2460 Now, CP = Rs 2400 & SP = Rs 2460 Since SP > CP ∴ Meenu made a Profit Profit = SP − CP = 2460 − 2400 = 60 Thus, Selling Price of first fan = Rs 1140 Selling Price of second fan = Rs 1320 & Profit = Rs 60

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.