Class 8 Exam > Class 8 Questions > "An article is sold for ₹990 at a profit of 1...
Start Learning for Free
"An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"?
Most Upvoted Answer
"An article is sold for ₹990 at a profit of 10%. If it had been sold f...
Understanding the Selling Price and Profit
To calculate the profit or loss when the article is sold for ₹890, we first need to determine the cost price (CP) of the article based on the initial selling price (SP) of ₹990 and the given profit percentage of 10%.
Step 1: Calculate the Cost Price (CP)
- Selling Price (SP) = ₹990
- Profit Percentage = 10%
Using the formula:
\[ \text{Profit} = \frac{\text{Profit Percentage}}{100} \times \text{CP} \]
We can rearrange it to find CP:
\[ \text{SP} = \text{CP} + \text{Profit} \]
So,
\[ \text{Profit} = 10\% \text{ of CP} = \frac{10}{100} \times \text{CP} = 0.1 \times \text{CP} \]
Therefore:
\[ \text{SP} = \text{CP} + 0.1 \times \text{CP} = 1.1 \times \text{CP} \]
\[ \text{CP} = \frac{\text{SP}}{1.1} = \frac{990}{1.1} = ₹900 \]
Step 2: Determine Profit or Loss at Selling Price of ₹890
Now, if the article is sold for ₹890, we can calculate the profit or loss:
- New Selling Price = ₹890
- Cost Price (CP) = ₹900
Now, calculate the difference:
\[ \text{Loss} = \text{CP} - \text{New SP} = ₹900 - ₹890 = ₹10 \]
Conclusion
- When sold for ₹890, there is a loss of ₹10.
Thus, selling at ₹890 results in a loss instead of a profit.
To calculate the profit or loss when the article is sold for ₹890, we first need to determine the cost price (CP) of the article based on the initial selling price (SP) of ₹990 and the given profit percentage of 10%.
Step 1: Calculate the Cost Price (CP)
- Selling Price (SP) = ₹990
- Profit Percentage = 10%
Using the formula:
\[ \text{Profit} = \frac{\text{Profit Percentage}}{100} \times \text{CP} \]
We can rearrange it to find CP:
\[ \text{SP} = \text{CP} + \text{Profit} \]
So,
\[ \text{Profit} = 10\% \text{ of CP} = \frac{10}{100} \times \text{CP} = 0.1 \times \text{CP} \]
Therefore:
\[ \text{SP} = \text{CP} + 0.1 \times \text{CP} = 1.1 \times \text{CP} \]
\[ \text{CP} = \frac{\text{SP}}{1.1} = \frac{990}{1.1} = ₹900 \]
Step 2: Determine Profit or Loss at Selling Price of ₹890
Now, if the article is sold for ₹890, we can calculate the profit or loss:
- New Selling Price = ₹890
- Cost Price (CP) = ₹900
Now, calculate the difference:
\[ \text{Loss} = \text{CP} - \text{New SP} = ₹900 - ₹890 = ₹10 \]
Conclusion
- When sold for ₹890, there is a loss of ₹10.
Thus, selling at ₹890 results in a loss instead of a profit.
Attention Class 8 Students!
To make sure you are not studying endlessly, EduRev has designed Class 8 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 8.
|
Explore Courses for Class 8 exam
|
|
Similar Class 8 Doubts
Top Courses for Class 8View all
"An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"?
Question Description
"An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"?.
"An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"?.
Solutions for "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? in English & in Hindi are available as part of our courses for Class 8.
Download more important topics, notes, lectures and mock test series for Class 8 Exam by signing up for free.
Here you can find the meaning of "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? defined & explained in the simplest way possible. Besides giving the explanation of
"An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"?, a detailed solution for "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? has been provided alongside types of "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? theory, EduRev gives you an
ample number of questions to practice "An article is sold for ₹990 at a profit of 10%. If it had been sold for ₹890, what would have been the actual profit or loss?"? tests, examples and also practice Class 8 tests.
|
|
Explore Courses for Class 8 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
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup