A man loses Rs 20 by selling some toys at the rate of Rs 3 per piece and gain Rs 30, if he sells them at Rs 3.25 per piece.The number of piece sold by him Related: Profit And Loss?

Question

A man loses Rs 20 by selling some toys at the rate of Rs 3 per piece and gain Rs 30, if he sells them at Rs 3.25 per piece.The number of piece sold by him Related:  Profit And Loss?

Answer

Solution:

Given, Loss = Rs 20
Selling price of 1 toy = Rs 3
Gain = Rs 30
Selling price of 1 toy = Rs 3.25

Let the number of toys sold be x.

Calculating the Cost Price of each toy

Loss = Cost Price – Selling Price
=> 20 = Cost Price – 3x
=> Cost Price = 20 + 3x

Calculating the Selling Price of each toy for the second scenario

Gain = Selling Price – Cost Price
=> 30 = 3.25x – (20 + 3x)
=> 30 = 0.25x + 20
=> 0.25x = 10
=> x = 40

Therefore, the man sold 40 toys.

Answer: The number of toys sold by the man is 40.

Explanation:

We can solve this problem using the concept of Profit and Loss. We can assume the number of toys sold by the man as x and then calculate the cost price of each toy using the formula Loss = Cost Price – Selling Price. We know that the man incurred a loss of Rs 20 by selling the toys at Rs 3 per piece. So, we can write 20 = Cost Price – 3x.

Next, we can calculate the selling price of each toy for the second scenario where the man gains Rs 30 by selling the toys at Rs 3.25 per piece. We can use the formula Gain = Selling Price – Cost Price. So, we can write 30 = 3.25x – (20 + 3x).

Solving the above equation, we get x = 40. Therefore, the man sold 40 toys.

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