My Math Forum  

Go Back   My Math Forum > High School Math Forum > Elementary Math

Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion


Reply
 
LinkBack Thread Tools Display Modes
July 31st, 2019, 06:56 AM   #1
Senior Member
 
Joined: Aug 2014
From: India

Posts: 476
Thanks: 1

Explain this solution for this profit/loss problem?

By selling an article at 80% of its MP, a merchant makes a loss of 12% what will be the profit /loss percent made by the merchant if he sells the article at 95% of its M.P?

Sol: 80% is equated to 88
95% is equated to 104.5

104.5 - 100 = 4.5

Why 80% is equated to 88 & 95% is equated to 104.5??

Last edited by Ganesh Ujwal; July 31st, 2019 at 06:58 AM.
Ganesh Ujwal is offline  
 
July 31st, 2019, 07:19 AM   #2
Global Moderator
 
Joined: Dec 2006

Posts: 21,028
Thanks: 2259

80% of M.P. corresponds to 88% (i.e. 100% - 12%) of C.P.

88 × 95/80 = 104.5 exactly, so the answer is 4.5% (profit).
skipjack is offline  
July 31st, 2019, 07:36 AM   #3
Senior Member
 
Joined: Aug 2014
From: India

Posts: 476
Thanks: 1

How did you write this equation: 88 × 95/80 = 104.5?
Ganesh Ujwal is offline  
July 31st, 2019, 08:15 AM   #4
Global Moderator
 
Joined: Dec 2006

Posts: 21,028
Thanks: 2259

When the selling price is changed from 80% of the marked price to 95% of the same marked price, it is multiplied by 95/80.

The original selling price is 88% of the cost price (because the merchant is making a 12% loss).

To get the corresponding percentage of the cost price after the selling price is multiplied by 95/80, one just multiplies that 88% by 95/80, which gives 104.5%.

Anything over 100% of the cost price is profit, so there is a profit of 4.5% for the merchant after the price change.
skipjack is offline  
July 31st, 2019, 07:39 PM   #5
Senior Member
 
Joined: Aug 2014
From: India

Posts: 476
Thanks: 1

Quote:
Originally Posted by skipjack View Post
When the selling price is changed from 80% of the marked price to 95% of the same marked price, it is multiplied by 95/80.
Why multiplication instead of addition?

Explain this fraction; 95/80 ;if something is changed into new thing, then fraction becomes something/new thing. in profit and loss problems??
Ganesh Ujwal is offline  
July 31st, 2019, 10:54 PM   #6
Global Moderator
 
Joined: Dec 2006

Posts: 21,028
Thanks: 2259

If v is the original selling price, v = 0.8 M.P.
If w is the new selling price, w = 0.95 M.P.
Hence both w = (0.95/0.8)v and w = v + 0.15 M.P.
As the value of M.P. isn't given, the first equation is more useful.
For a different profit/loss problem, the second equation might be more useful.
skipjack is offline  
Reply

  My Math Forum > High School Math Forum > Elementary Math

Tags
explain, problem, profit or loss, solution



Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Loss & Profit Gunjan Algebra 5 May 14th, 2015 08:54 AM
Profit & loss aditya ranjan Elementary Math 6 October 25th, 2013 03:05 AM
PROFIT AND LOSS PROBLEM ANAMIKA Elementary Math 6 May 24th, 2013 03:07 AM
profit & loss maya007 Economics 1 August 20th, 2011 01:31 PM
profit & loss maya007 Number Theory 0 December 31st, 1969 04:00 PM





Copyright © 2019 My Math Forum. All rights reserved.