A Vegetable Seller Purchased 1 Quintal Of Potatoes At Rs 35 Per Kg And Sold Them At A Loss Of Rs 350. Find The Selling Price Per Kg.

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Introduction

In the world of commerce, profit and loss are two essential concepts that every business owner must understand. A vegetable seller, for instance, needs to calculate the selling price of his products to ensure he makes a profit or minimizes his losses. In this article, we will explore how to calculate the selling price per kilogram of potatoes when purchased at a certain price and sold at a loss.

Problem Statement

A vegetable seller purchased 1 quintal of potatoes at Rs 35 per kilogram. He then sold them at a loss of Rs 350. We need to find the selling price per kilogram of potatoes.

Understanding the Problem

To solve this problem, we need to understand the concept of profit and loss. Profit is the amount of money earned by selling a product at a price higher than its cost price, while loss is the amount of money incurred by selling a product at a price lower than its cost price.

Calculating the Total Cost Price

First, let's calculate the total cost price of 1 quintal of potatoes. Since 1 quintal is equal to 100 kilograms, the total cost price can be calculated as follows:

Total Cost Price = Cost Price per Kilogram x Total Number of Kilograms

Total Cost Price = Rs 35 per kilogram x 100 kilograms Total Cost Price = Rs 3500

Calculating the Selling Price

Now, let's calculate the selling price of 1 quintal of potatoes. We know that the seller incurred a loss of Rs 350. To find the selling price, we need to subtract the loss from the total cost price.

Selling Price = Total Cost Price - Loss

Selling Price = Rs 3500 - Rs 350 Selling Price = Rs 3150

Calculating the Selling Price per Kilogram

Since the seller sold 1 quintal of potatoes, which is equal to 100 kilograms, we can calculate the selling price per kilogram as follows:

Selling Price per Kilogram = Selling Price / Total Number of Kilograms

Selling Price per Kilogram = Rs 3150 / 100 kilograms Selling Price per Kilogram = Rs 31.50

Conclusion

In conclusion, the selling price per kilogram of potatoes is Rs 31.50. This means that the vegetable seller sold his potatoes at a price that was Rs 3.50 lower than the cost price per kilogram.

Real-World Application

This problem has a real-world application in the field of commerce. Business owners need to calculate the selling price of their products to ensure they make a profit or minimize their losses. By understanding the concept of profit and loss, business owners can make informed decisions about pricing their products.

Tips and Tricks

Here are some tips and tricks to help you solve similar problems:

  • Always calculate the total cost price before calculating the selling price.
  • Use the formula: Selling Price = Total Cost Price - Loss to calculate the selling price.
  • Make sure to calculate the selling price per kilogram or unit to ensure accuracy.

Practice Problems

Here are some practice problems to help you practice your skills:

  • A vegetable seller purchased 1 quintal of carrots at Rs 40 per kilogram and sold them at a profit of Rs 200. Find the selling price per kilogram.
  • A fruit seller purchased 1 quintal of apples at Rs 30 per kilogram and sold them at a loss of Rs 300. Find the selling price per kilogram.

Conclusion

In conclusion, calculating the selling price per kilogram of potatoes is a simple process that involves understanding the concept of profit and loss. By following the steps outlined in this article, you can calculate the selling price per kilogram of any product. Remember to always calculate the total cost price before calculating the selling price, and use the formula: Selling Price = Total Cost Price - Loss to calculate the selling price.

Introduction

In our previous article, we explored how to calculate the selling price per kilogram of potatoes when purchased at a certain price and sold at a loss. In this article, we will answer some frequently asked questions related to profit and loss calculation.

Q&A

Q1: What is the difference between cost price and selling price?

A1: The cost price is the price at which a product is purchased, while the selling price is the price at which a product is sold.

Q2: How do I calculate the profit or loss?

A2: To calculate the profit or loss, you need to subtract the cost price from the selling price. If the result is positive, it means you have made a profit. If the result is negative, it means you have incurred a loss.

Q3: What is the formula for calculating the selling price?

A3: The formula for calculating the selling price is: Selling Price = Total Cost Price - Loss (or Selling Price = Total Cost Price + Profit).

Q4: How do I calculate the selling price per kilogram?

A4: To calculate the selling price per kilogram, you need to divide the selling price by the total number of kilograms.

Q5: What is the difference between a profit and a loss?

A5: A profit is the amount of money earned by selling a product at a price higher than its cost price, while a loss is the amount of money incurred by selling a product at a price lower than its cost price.

Q6: How do I calculate the total cost price?

A6: To calculate the total cost price, you need to multiply the cost price per kilogram by the total number of kilograms.

Q7: What is the formula for calculating the total cost price?

A7: The formula for calculating the total cost price is: Total Cost Price = Cost Price per Kilogram x Total Number of Kilograms.

Q8: How do I calculate the selling price when the loss is given?

A8: To calculate the selling price when the loss is given, you need to subtract the loss from the total cost price.

Q9: What is the difference between a loss and a discount?

A9: A loss is the amount of money incurred by selling a product at a price lower than its cost price, while a discount is a reduction in the selling price of a product.

Q10: How do I calculate the selling price when the profit is given?

A10: To calculate the selling price when the profit is given, you need to add the profit to the total cost price.

Conclusion

In conclusion, calculating the selling price per kilogram of potatoes is a simple process that involves understanding the concept of profit and loss. By following the steps outlined in this article, you can calculate the selling price per kilogram of any product. Remember to always calculate the total cost price before calculating the selling price, and use the formula: Selling Price = Total Cost Price - Loss (or Selling Price = Total Cost Price + Profit) to calculate the selling price.

Practice Problems

Here are some practice problems to help you practice your skills:

  • A fruit seller purchased 1 quintal of apples at Rs 30 per kilogram and sold them at a profit of Rs 200. Find the selling price per kilogram.
  • A vegetable seller purchased 1 quintal of carrots at Rs 40 per kilogram and sold them at a loss of Rs 300. Find the selling price per kilogram.
  • A grocery store purchased 1 quintal of rice at Rs 25 per kilogram and sold it at a profit of Rs 150. Find the selling price per kilogram.

Tips and Tricks

Here are some tips and tricks to help you solve similar problems:

  • Always calculate the total cost price before calculating the selling price.
  • Use the formula: Selling Price = Total Cost Price - Loss (or Selling Price = Total Cost Price + Profit) to calculate the selling price.
  • Make sure to calculate the selling price per kilogram or unit to ensure accuracy.

Real-World Application

This problem has a real-world application in the field of commerce. Business owners need to calculate the selling price of their products to ensure they make a profit or minimize their losses. By understanding the concept of profit and loss, business owners can make informed decisions about pricing their products.

Conclusion

In conclusion, calculating the selling price per kilogram of potatoes is a simple process that involves understanding the concept of profit and loss. By following the steps outlined in this article, you can calculate the selling price per kilogram of any product. Remember to always calculate the total cost price before calculating the selling price, and use the formula: Selling Price = Total Cost Price - Loss (or Selling Price = Total Cost Price + Profit) to calculate the selling price.