Question

II. Mr. Roy sold a cupboard to Mohan for RO 60 and earned a profit of RO 10. Mohan spent RO 27 to polish and repair the cupboard. He then sold it to Gopi at a profit of RO 8. After using the cupboard for a year , Gopi sold it to a furniture dealer for RO 90. Did Gopi make a profit or a loss in the deal? *

Answer 1

Answer:

Gopi made a loss in the deal

Step-by-step explanation:

To solve this question, we'll analyse each statement in the question one after the other.

From Roy to Mohan,

$Selling\ Price = Ro.\ 60$

The profit of $Ro.\ 10$ goes to Roy

Mohan spent $Ro. 27$ on polish and repairs.

So, the cost price of the cupboard becomes

$Cost\ Price = Ro.60 + Ro.27$

$Cost\ Price = Ro.87$

He sells at a profit of $Ro.8$. to Gopi

So, the selling price is:

$Selling\ Price = Ro.8 + Ro.87$

$Selling\ Price = Ro.95$

At this stage, the cost price of the cupboard to Gopi is:

$Cost\ Price = Ro.95$

and

$Selling\ Price = Ro.90$

Profit is calculated as:

$Profit = Selling\ Price - Cost\ Price$

$Profit = Ro.90 - Ro.95$

$Profit =- Ro.5$

Because; the profit is negative, then it is a loss.

$Loss = Ro.5$

Gopi made a loss in the deal