Question 14 Marks

Kunal owns an electrical goods shop wherein he trades in home appliances and also undertakes repair of appliances. On a certain day, he bought an electric iron for ₹ 415 but it turned out fauity and he had to spend ₹ 35 on its repairs. Thereafter he sold the iron for $₹ 486$. He then bought an electric kettle for ₹ 702 including VAT at $8 \%$. He paid $₹ 48$ for its transportation and sold it, gaining $12 \%$. Next, he bought a heater for ₹ 3600 . He marked it at a price $15 \%$ above its cost and then sold it at a discount of $15 \%$ on it.
(1) What percentage of profit did Kunal earn on the electric iron?
(a) $5 \%$$\quad$(b) $8 \%$$\quad$(c) $9 \%$$\quad$(d) $14.6 \%$
(2) The original or basic cost price (excluding VAT) of the electric kettle is
(a) ₹ 646$\quad$(b) ₹ 650$\quad$(c) ₹ 654$\quad$(d) ₹ 670
(3) The price at which Kunal sold the kettle was
(a) ₹ 786$\quad$(b) ₹ 825$\quad$(c) ₹ 840$\quad$(d) ₹ 850
(4) How much profit or loss did Kunal earn by selling the heater?
(a) No profit no loss$\quad$(b) Profit of ₹ 71$\quad$(c) Loss of ₹ 71$\quad$(d) Loss of ₹ 81

Answer

(1) (B) $8 \%$
$\begin{array}{l}\text { Total CP }=₹(415+35)=₹ 450 . \\ \text { SP }=₹ 486 \\ \text { Profit }=₹(486-450)=₹ 36 . \\ \therefore \text { profit } \%=\left(\frac{36}{450} \times 100\right) \%=8 \% .\end{array}$

(2) (B) ₹ 650
Let the basic cost price be $₹ x$. 
Then, $(100+8) \%$ of $x=702 \Rightarrow x=\left(702 \times \frac{100}{108}\right)=₹ 650$.

(3) (C) ₹ 840
Total CP $=₹(702+48)=₹ 750$. 
Profit $=12 \%$.
$\therefore SP =₹\left(\frac{112}{100} \times 750\right)=₹ 840$

(4) (D) Loss of ₹ 81
$\begin{array}{l}C P=₹ 3600 \\ M P=115 \% \text { of } ₹ 3600=₹\left(\frac{115}{100} \times 3600\right)=₹ 4140 .\end{array}$
$S P=85 \%$ of $₹ 4140=₹\left(\frac{85}{100} \times 4140\right)=₹ 3519$.
$\therefore $ loss ₹ $(3600-3519)=₹ 81$.

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