Loss is calculated by subtracting the selling price from the cost price. In this scenario, the cost price is Rs. 8000 and the selling price is Rs. 7000. Therefore, the loss is 8000 minus 7000, which equals Rs. 1000.
652
A person sells two houses for Rs. 2 lakh each. If one is sold at a 20% profit and the other at a 20% loss, what is the overall percentage profit or loss?
When two items are sold at the same price, one at a profit percentage 'r' and the other at an equal loss percentage 'r', the overall result is always a loss. The formula for this net loss percentage is (r^2 / 100). Substituting r = 20, we get 20^2 / 100 = 400 / 100 = 4% loss.
653
A scooter is sold for Rs. 10,500, resulting in a 5% profit. What was the original cost price of the scooter?
The selling price is equal to the cost price plus the profit percentage. If the cost price is CP, then 10,500 = CP * (1 + 0.05). Solving for CP, we divide 10,500 by 1.05. This calculation yields 10,000, which is the original cost price of the scooter before the 5% gain was applied.
654
Calculate the percentage loss if an item purchased for Rs. 90,000 is sold for Rs. 80,000.
The loss is calculated as the difference between the cost price and the selling price, which is 90,000 - 80,000 = 10,000. The percentage loss is then found by dividing the loss by the cost price and multiplying by 100: (10,000 / 90,000) * 100 = 1/9 * 100, which is approximately 11.11%.
655
Anwar purchased a vehicle for Rs. 44,000 and subsequently sold it for Rs. 48,000. Determine the profit percentage.
The profit is calculated as the difference between the selling price and the cost price (48,000 - 44,000 = 4,000). The profit percentage is (Profit / Cost Price) * 100, which is (4,000 / 44,000) * 100 = 1/11 * 100, approximately 9.09%.
656
Who is widely recognized as the 'Father of Economics'?
Adam Smith is historically regarded as the 'Father of Economics' due to his seminal work, 'An Inquiry into the Nature and Causes of the Wealth of Nations,' published in 1776, which laid the foundations for classical economic theory.
657
Nabeel sold goods for Rs. 398,160 and is required to pay 10% as Ushr. Calculate the total amount of Ushr to be paid.
Ushr is calculated as a percentage of the total sales value. Given the sales amount is Rs. 398,160 and the Ushr rate is 10%, the calculation is 0.10 multiplied by 398,160. This results in 39,816. Thus, the amount of Ushr is Rs. 39,816.
658
A merchant purchases 10 items for Rs. 8 and sells them at a price of Rs. 1.25 per item. Calculate the percentage of profit earned.
First, determine the cost price (CP) per item: Rs. 8 / 10 = Rs. 0.80. The selling price (SP) per item is given as Rs. 1.25. The profit per item is SP - CP = 1.25 - 0.80 = 0.45. The profit percentage is calculated as (Profit / CP) * 100, which is (0.45 / 0.80) * 100 = 0.5625 * 100 = 56.25%.
659
Rashid purchased a shirt for Rs. 350 and sold it for Rs. 300. Calculate the total loss incurred.
Loss is calculated by subtracting the selling price from the cost price. In this scenario, the cost price is Rs. 350 and the selling price is Rs. 300. Therefore, the loss is 350 - 300 = Rs. 50. This represents the financial deficit from the transaction.
660
A dealer sells a ceiling fan for Rs. 475, resulting in a 5% loss. Determine the selling price required to achieve a 5% gain.
First, calculate the cost price (CP) by dividing the selling price by (1 - loss percentage), which is 475 / 0.95 = 500. To achieve a 5% gain, multiply the cost price by 1.05, resulting in 500 * 1.05 = 525.
