Question

Ramrao bought a cupboard for Rs 4500 and sold it for Rs 4950. Shamrao bought a sewing machine for Rs 3500 and sold it for Rs 3920. Whose transaction was more profitable?

Answer 1

Cost price of cupboard = Rs 4500 

Selling price of cupboard = Rs 4950 

∴ Profit = Selling price – Cost price 

= 4950 – 4500 

= Rs 450 

Let Ramrao make x% profit on selling cupboard

∴ x = 10% 

Cost price of sewing machine = Rs 3500 

Selling price of sewing machine = Rs 3920 

∴Profit = Selling price – Cost price 

= 3920 – 3500 

= Rs 420 

Shamrao make y% profit on selling sewing machine.

∴ y = 12% 

∴ Shamrao’s transaction was more profitable.