Class 7 Exam > Class 7 Questions > A shopkeeper earns a profit of ₹5 by selling ...
Start Learning for Free
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day?
Most Upvoted Answer
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss ...
Solution:
Given, profit earned on selling a pen = ₹5
Loss suffered on selling a book = ₹3
Now, let's calculate the cost price of one pen and one book.
Let the cost price of one pen be x.
Selling price of one pen will be x + 5 (as he earned a profit of ₹5 on selling one pen).
Therefore, (x + 5) - x = 5
=> x = ₹5
Similarly, let the cost price of one book be y.
Selling price of one book will be y - 3 (as he suffered a loss of ₹3 on selling one book).
Therefore, y - (y - 3) = 3
=> y = ₹6
Now, let's calculate the total cost price and total selling price of 12 pens and 10 books.
Total cost price = (12 x ₹5) + (10 x ₹6) = ₹60 + ₹60 = ₹120
Total selling price = (12 x (₹5 + 5)) + (10 x (₹6 - 3)) = ₹120 + ₹30 = ₹150
Profit/Loss = Total Selling Price - Total Cost Price = ₹150 - ₹120 = ₹30
Therefore, the shopkeeper earned a profit of ₹30 on that day.
Explanation:
The given problem involves calculating the profit or loss earned by a shopkeeper on selling pens and books. We are given the profit earned on selling a pen and the loss suffered on selling a book. Using this information, we can calculate the cost price of one pen and one book. Using the cost price, we can calculate the total cost price and total selling price of the pens and books sold on that day. Finally, we can calculate the profit or loss earned by the shopkeeper by subtracting the total cost price from the total selling price. In this case, the shopkeeper earned a profit of ₹30 on that day.
Given, profit earned on selling a pen = ₹5
Loss suffered on selling a book = ₹3
Now, let's calculate the cost price of one pen and one book.
Let the cost price of one pen be x.
Selling price of one pen will be x + 5 (as he earned a profit of ₹5 on selling one pen).
Therefore, (x + 5) - x = 5
=> x = ₹5
Similarly, let the cost price of one book be y.
Selling price of one book will be y - 3 (as he suffered a loss of ₹3 on selling one book).
Therefore, y - (y - 3) = 3
=> y = ₹6
Now, let's calculate the total cost price and total selling price of 12 pens and 10 books.
Total cost price = (12 x ₹5) + (10 x ₹6) = ₹60 + ₹60 = ₹120
Total selling price = (12 x (₹5 + 5)) + (10 x (₹6 - 3)) = ₹120 + ₹30 = ₹150
Profit/Loss = Total Selling Price - Total Cost Price = ₹150 - ₹120 = ₹30
Therefore, the shopkeeper earned a profit of ₹30 on that day.
Explanation:
The given problem involves calculating the profit or loss earned by a shopkeeper on selling pens and books. We are given the profit earned on selling a pen and the loss suffered on selling a book. Using this information, we can calculate the cost price of one pen and one book. Using the cost price, we can calculate the total cost price and total selling price of the pens and books sold on that day. Finally, we can calculate the profit or loss earned by the shopkeeper by subtracting the total cost price from the total selling price. In this case, the shopkeeper earned a profit of ₹30 on that day.
Community Answer
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss ...
On selling 1 pen, the shopkeeper earns a profit of ₹5
so, on selling 12pens, his profit=₹(5X12) =₹60.
On selling 1book, the shopkeeper suffers a loss of ₹3, which we denote as -₹3
So, selling 10 books, his loss =₹(3X10)=30, which we denote as -₹30.
thus on selling 12 pens and 10 books his total earning =₹(60-30) =₹30
Since, the shopkeeper &s earning is in positive value, he makes a profit.
Thus, the amount of the profit is ₹30.
so, on selling 12pens, his profit=₹(5X12) =₹60.
On selling 1book, the shopkeeper suffers a loss of ₹3, which we denote as -₹3
So, selling 10 books, his loss =₹(3X10)=30, which we denote as -₹30.
thus on selling 12 pens and 10 books his total earning =₹(60-30) =₹30
Since, the shopkeeper &s earning is in positive value, he makes a profit.
Thus, the amount of the profit is ₹30.
Attention Class 7 Students!
To make sure you are not studying endlessly, EduRev has designed Class 7 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 7.
|
Explore Courses for Class 7 exam
|
|
Top Courses for Class 7View all
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day?
Question Description
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day?.
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day?.
Solutions for A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? in English & in Hindi are available as part of our courses for Class 7.
Download more important topics, notes, lectures and mock test series for Class 7 Exam by signing up for free.
Here you can find the meaning of A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? defined & explained in the simplest way possible. Besides giving the explanation of
A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day?, a detailed solution for A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? has been provided alongside types of A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? theory, EduRev gives you an
ample number of questions to practice A shopkeeper earns a profit of ₹5 by selling a pen and suffers a loss of ₹3 by selling a book. One day, he sold 12 pens and 10 books. What was his profit or loss on that day? tests, examples and also practice Class 7 tests.
|
|
Explore Courses for Class 7 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup