Concept of “Profit and Loss”–15

Question: If a man purchases 12 mangoes for Rs.15 and sells 10 mangoes for Rs.14. How much profit or loss does he make?  [Ans. (b) 12% profit]                                                                    (a) (13&1/3)% profit  (b) 12% profit (c) 10% loss (d) 12% loss (e) None of these

Solution:

Detailed Explanation:

Concept: For profit and loss, the no. of articles soled or bought should be the same. If the no. of articles is different, then the LCM of no. of articles is taken.

Here, no. of articles bought is 12; where as the no. of articles sold is 10. The LCM of 12 and 10 is 60.

As CP of 12 mangoes is Rs.15, so CP of 60 mangoes is Rs.75

Also, SP of 10 mangoes is Rs.14, so SP of 60 mangoes is Rs.84

Profit = Rs.84-Rs.75 = Rs.9

Profit% = [Rs.9/Rs.75]×100 = 12% Ans.