By selling some goods at Rs 31, a salesman loses 7% on his output. Find the % profit or loss, when he sells the same at Rs 35?
Pls help
5% profit
To find the percentage profit or loss, we need to compare the selling price with the cost price.
Given:
Selling price of goods = Rs 31
Loss percentage = 7%
Step 1: Calculate the cost price (CP) of the goods.
Let's assume the cost price is 'x' Rs.
Loss = Selling price - Cost price
7% of CP = 31 - CP
0.07x = 31 - x
Simplifying the equation, we get:
0.07x + x = 31
1.07x = 31
x = 31 / 1.07
x ≈ 29.03
Therefore, the cost price (CP) is approximately Rs 29.03.
Step 2: Calculate the selling price (SP) when the goods are sold at Rs 35.
Given:
New selling price = Rs 35
Step 3: Determine the profit or loss percentage.
Profit/Loss = (Selling price - Cost price) / Cost price * 100
Profit/Loss = (35 - 29.03) / 29.03 * 100
Profit/Loss ≈ 20.5
Therefore, the salesman will have a profit of approximately 20.5% when he sells the goods at Rs 35.
If the cost is x,
.93x = 31
x = 33.33
Profit at Rs 35 = 1.167 = 3.5%