3.If the cost price of 12 bananas is equal to the selling priceof 8 bananas, the gain percent is ?(1) 12%(2) 50%(3) 30%(4) 60%(5) None of theseAnswer: 2Explanation:Now we will discuss further some examples-Question 1:A man buys a toy for Rs. 25 and sells it for Rs. 30. Findhis gain/loss percentage.Question 2:When an article is sold at Rs. 910000, then the profitpercentage amounts to 30%.Determine the Cost Price.Selling Price = 100 + x = 100 + 30 = 130The value of 130% is 910000,So required cost price is9100000100700000Question 3A man bought a cycle for Rs. 250. For how much shouldhe sell it so as to gain 10%?Question 4Ram buys a watch for Rs. 500 and sells it to Shyam at 10%loss. Shyam then sells it to Ravi at 20% profit and Ravisells it to Rakesh at 10% profit. How much did Rakeshpay for the watch?
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Elementary and Intermediate Algebra: Algebra Within Reach
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STUDY NOTES FOR BANK AND OTHER EXAMSQuestion 5If a man purchases 11 oranges for Rs. 10 and sells 10oranges for Rs. 11. How much profit or loss does hemake?1011
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➡One more question will help you understand the processmore clearly.Question 6
A man purchases 8 pens for Rs. 9 and sells 9 pens forRs. 8. How much profit or loss does he make?98Whats next??
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Find the percentage loss in the purchase and sale of bananas
- Thread starter chwala
- Start date Mar 9, 2022
Homework Statement: The cost price of ##10## bananas is equal to the selling price of ##12## bananas. Find the percentage loss. Relevant Equations: Buying price and selling price
Ok my approach on this, i let the cost price = ##x##, then it follows that cost price per banana will be given by;
##\frac {x}{10}##=##\frac {x}{12}##
##\frac {x}{10}-\frac {x}{12}##= loss
##x####\left[ \frac {1}{10}-\frac {1}{12}\right]##=loss
##x####\left[ \frac {1}{6}\right]##=loss
therefore the percentage loss is ##\frac {1}{6}##×##100##= ##16.666666##%
note;
i do not have the solution...and my working steps may not be correct...
Last edited: Mar 10, 2022
Answers and Replies
- Mar 10, 2022
- #2
Homework Statement:: The cost price of ##10## bananas is equal to the selling price of ##12## bananas. Ok my approach on this, i let the cost price = ##x##, then it follows that
cost price per banana will be given by; ##\frac {x}{10}##=##\frac {x}{12}## ##\frac {x}{10}-\frac {x}{12}##= loss note;
This equation makes no sense. The only solution is x = 0.
Find the percentage loss.
Relevant Equations:: Buying price and selling price
##x####\left[ \frac {1}{10}-\frac {1}{12}\right]##=loss
##x####\left[ \frac {1}{6}\right]##=loss
therefore the percentage loss is ##\frac {1}{6}##×##100##= ##16.666666##%
i do not have the
solution...and my working steps may not be correct...
- Mar 10, 2022
- #3
I am not good at economics at all and assumed that gain ratio is ##\frac{s-c}{s}=1-\frac{c}{s}## where c is cost or buying price and s is selling price. It would become loss ratio with minus sign when it is negative, e.g. -25% gain equals 25% loss.
Last edited: Mar 10, 2022
- Mar 10, 2022
- #4
This equation makes no sense. The only solution is x = 0. On follow up (my thinking is based on) let us let the cost price be ##x=40##=selling price,...
then loss will be given by; the equation,
Mark hi, true the very first equation ##\left[ \frac {x}{10}=\frac {x}{12}\right]## does not make sense.
##\left[ \frac {40}{10}-\frac {40}{12}\right]##=loss per banana. From this i should get the loss percentage directly as indicated in post ##1##. The problem i have probably is on the required form of the equation.
Last edited: Mar 10, 2022
- Mar 10, 2022
- #5
I am not good at economics at all and assumed that gain ratio is ##\frac{s-c}{s}=1-\frac{c}{s}## where c is cost or buying price and s is selling price. It would become loss ratio with minus sign when it is negative, e.g. -25% gain equals 25% loss. Certainly if you lost all your money that would be 100% loss and not an undefined loss!
Profit
and loss are normally measured against the initial capital, not the income. For example, if you start with $100 and end up with $75, then that is a 25% loss, not a 33.3% loss.
- Mar 10, 2022
- #6
Thanks. I am poor at literacy of these kinds. In more physical sense output/input is ##\frac{s}{c}##. Say it is 75%, loss is 25%. I hope I am on a right way.
- Mar 10, 2022
- #7
"The cost price of 10 bananas is equal to the selling price of 12 bananas." Doesn't that mean that you're selling at 10/12 (5/6) of your buying price, and buying at 12/10 (120%) of your selling price? ##-## if so, then you're paying 12 and getting 10, so out of every 12 you're putting in, you're losing 2, and 12 divided by 2 is 6, so you're losing 1/6 (16(recurring 6)%),
right?
Last edited: Mar 10, 2022
- Mar 10, 2022
- #8
Your answer is correct, but your working is not - or at least, you're missing out some steps, which makes it unclear. You write: x[1/10−1/12]=loss
Now 1/10 - 1/12 = 1/60, and the loss per banana is x/60. But since the cost per banana is x/10, the
fractional loss is (x/60)/(x/10) = 1/6.
x[1/6]=loss
- Mar 10, 2022
- #9
Your answer is correct, but your working is not - or at least, you're missing out some steps, which makes it unclear. You write: Now 1/10 - 1/12 = 1/60, and the loss per banana is x/60. But since the cost per banana is x/10, the fractional loss is (x/60)/(x/10) = 1/6.
Just check your subtraction again...I see a mistake in your working.
True, my steps are not entirely correct...
- Mar 10, 2022
- #10
1/10 - 1/12 = 6/60 - 5/60 = 1/60. Confirm with a calculator.
- Mar 10, 2022
- #11
1/10 - 1/12 = 6/60 - 5/60 = 1/60. Confirm with a calculator.
True, i missed that...
- Mar 10, 2022
- #12
Your answer is correct, but your working is not - or at least, you're missing out some steps, which makes it unclear. You write: Now 1/10 - 1/12 = 1/60, and the loss per banana is x/60. But since the cost per banana is x/10, the fractional loss is (x/60)/(x/10) = 1/6.
...that makes sense...i.e in business math we know that;
Loss/Profit=##\left[\frac {cost price- sale price}{cost price}\right]##...then percentage loss or profit would follow by,
Percentage Loss/Profit=##\left[\frac {cost price- sale price}{cost price}\right]×100##.
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