Profit Percentage And Loss Percentage.
Suppose an Egg seller goes to a market to buy the eggs.
There he purchases 10 egg trays at the rate of Rs
$120$
per tray.
So, on purchasing 10 trays, he spent Rs
$1200$
.
Now, he sells all the egg trays for
$130$
Rs per tray. So, the total selling price of the egg trays becomes
$1300$
Rs.
He becomes happy on earning Rs.100.
One of his friends who also thinks of selling eggs asks him about earned profit in percent.
The egg seller gets confused to hear the word “percent” in profit and loss situation.
So, let’s try to explain him the percent concept in profit and loss situation.
We see that the amount spent to purchase egg trays is the cost price, which is denoted by (CP).
The amount for which, he sold out all the eggs trays is selling price, denoted by (SP).
And the difference between
$SP$
and
$CP$
is called the profit.
So, he earned Rs
$100$
as profit.
Now, the profit percentage is the ratio of profit to the cost price.
We usually calculated the percentage as shown in the figure.
Similarly the percent of profit can be calculated as shown in the figure.
Therefore the profit
$%$
for the egg seller is
$8.33%$
.
Now, let’s take another case in which, the egg seller sold egg trays with
$105$
rupees per tray.
Then the selling price for
$10$
egg trays will be Rs
$1050$
.
Here, we see that the cost price(CP) is greater than selling price(SP).
And the total loss is of
$150$
Then the loss percent can be calculated as shown in the figure.
Thus in this situation, the egg seller gets
$12.5$
% loss on selling egg trays for
$105$
Rs per tray.
Revision
We have a general formula to calculate profit
$%$
.
And the general formula to calculate loss
$%$
is as shown in the figure.
The End