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The profit percentage of P and Q is same on selling the articles at Rs. 1800 each but P calculates his profit on the selling price while Q calculates it correctly on the cost price which is equal to 20%. What is the difference in their profits?
- a)40
- b)50
- c)60
- d)70
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
The profit percentage of P and Q is same on selling the articles at Rs...
Explanation:
Profit(Calculated on SP) = 20% of 1800 = 360
Profit(calculated on CP)
x + x/5 = 1800
x = 1500
Profit = 300
Difference = 360 – 300 = 60
Profit(Calculated on SP) = 20% of 1800 = 360
Profit(calculated on CP)
x + x/5 = 1800
x = 1500
Profit = 300
Difference = 360 – 300 = 60
Most Upvoted Answer
The profit percentage of P and Q is same on selling the articles at Rs...
Given:
Selling price of each article = Rs. 1800
Profit percentage of P and Q is the same
Let us assume the cost price of each article to be Rs. x.
According to the question,
P calculates his profit on the selling price, so his profit percentage will be (Profit/Cost price) x 100, which is (1800-x)/1800 x 100.
Q calculates his profit on the cost price, so his profit percentage will be (Profit/Cost price) x 100, which is (1800-x)/x x 100.
It is given that both P and Q have the same profit percentage. Therefore,
(1800-x)/1800 x 100 = (1800-x)/x x 100
Simplifying the above equation, we get
x = Rs. 1200
Therefore, the cost price of each article is Rs. 1200.
Now, let us calculate the profit of P and Q.
Profit of P = (1800-1200)/1800 x 100 = 33.33%
Profit of Q = 20%
The difference in their profits = Profit of P - Profit of Q
= 33.33% - 20%
= 13.33%
Now, let us calculate the difference in their profits in terms of money.
Profit earned by P = 33.33% of 1800 = Rs. 600
Profit earned by Q = 20% of 1200 = Rs. 240
Difference in their profits = Rs. 600 - Rs. 240 = Rs. 360
Therefore, the difference in their profits is Rs. 360, which is option (c).
Selling price of each article = Rs. 1800
Profit percentage of P and Q is the same
Let us assume the cost price of each article to be Rs. x.
According to the question,
P calculates his profit on the selling price, so his profit percentage will be (Profit/Cost price) x 100, which is (1800-x)/1800 x 100.
Q calculates his profit on the cost price, so his profit percentage will be (Profit/Cost price) x 100, which is (1800-x)/x x 100.
It is given that both P and Q have the same profit percentage. Therefore,
(1800-x)/1800 x 100 = (1800-x)/x x 100
Simplifying the above equation, we get
x = Rs. 1200
Therefore, the cost price of each article is Rs. 1200.
Now, let us calculate the profit of P and Q.
Profit of P = (1800-1200)/1800 x 100 = 33.33%
Profit of Q = 20%
The difference in their profits = Profit of P - Profit of Q
= 33.33% - 20%
= 13.33%
Now, let us calculate the difference in their profits in terms of money.
Profit earned by P = 33.33% of 1800 = Rs. 600
Profit earned by Q = 20% of 1200 = Rs. 240
Difference in their profits = Rs. 600 - Rs. 240 = Rs. 360
Therefore, the difference in their profits is Rs. 360, which is option (c).
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Community Answer
The profit percentage of P and Q is same on selling the articles at Rs...
Explanation:
Profit(Calculated on SP) = 20% of 1800 = 360
Profit(calculated on CP)
x + x/5 = 1800
x = 1500
Profit = 300
Difference = 360 – 300 = 60
Profit(Calculated on SP) = 20% of 1800 = 360
Profit(calculated on CP)
x + x/5 = 1800
x = 1500
Profit = 300
Difference = 360 – 300 = 60
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The profit percentage of P and Q is same on selling the articles at Rs. 1800 each but P calculates his profit on the selling price while Q calculates it correctly on the cost price which is equal to 20%. What is the difference in their profits?a)40b)50c)60d)70e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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