**Example Problems on Profit and Loss :**

In this section, we will see how to solve problems with the concept of profit and loss.

Profit (or) gain = Selling price - Cost price

Loss = Cost price - Selling price

Profit % = (Profit / Cost price) ⋅ 100

Loss % = (Loss / Cost price) ⋅ 100

Cost price = [100 / (100 - loss%)] ⋅ Selling price

Cost price = [100 / (100 + profit%)] ⋅ Selling price

Selling price = [(100 + profit%)/100] ⋅ Cost price

Selling price = [(100 - loss%)/100] ⋅ Cost price

**Example 1 :**

A shop bought 80 laptops at $4000 each. It then sold 50 of them at a 20% profit in the first month. In the second month, the remaining laptops were sold at 75% of the first month's selling price. How much profit was made altogether ?

**Solution :**

Selling price of each laptop sold in the first month = 120% of 4000

= 1.2(4000)

= 4800

Cost price of 50 laptops at 4000 each :

= 50(4000)

= 200000

Selling price of 50 laptops at 4800 each :

= 50(4800)

= 240000

Profit in the first month = 240000 - 200000

= 40000

Remaining laptops = 80 - 50 = 30

Selling price of each laptop in the second month = 75% of selling price of first month

= 75% of 4800

= 3600

Cost price of 30 laptops = 30(4000)

= 120000

Selling price of 30 laptops = 30(3600)

= 108000

Loss in the second month = 120000 - 108000

= 12000

Profit earned altogether = 40000 - 12000

= 28000

**Example 2 :**

A product was marked at 20% above the cost price. It was eventually sold at 80% of the selling price. The loss was $40. What was the cost price of the product ?

**Solution :**

Let x be the cost price

Marked price = 120% of x

Selling price = 80% of 120% of x

= 0.8 (1.2x)

= 0.96x

Loss = Cost price - Selling price

x - 0.96x = 40

0.04x = 40

x = 40/0.04

x = 1000

After having gone through the stuff given above, we hope that the students would have practiced problems in profit and loss.

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