Calculating Mobile Sale Price For Profit: A Math Problem

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Let's break down this math problem step by step, guys! We're going to figure out at what price a man needs to sell his mobile phone to make a profit, considering his initial loss. This is a classic cost price, selling price, profit, and loss scenario, so buckle up, and let's dive in!

Understanding the Problem

In this section, we'll dissect the problem to clearly understand the given information and what we need to find. First off, it's super important to identify the key elements. We know the man lost money when he sold the phone for Rs 12222. This means the selling price (SP) is less than the cost price (CP). The loss amount is Rs 888. Our goal is to find the new selling price that would give him a profit of Rs 555. To get there, we need to figure out the original cost price of the mobile set.

Think of it like this: if you sell something for less than you bought it for, you have a loss. If you sell it for more, you have a profit. This difference between the buying price (the cost price) and the selling price is the key to unlocking this problem. We need to use the information about the loss to find the cost price, and then use that cost price to calculate the selling price needed for a profit.

Remember this formula:

  • Loss = Cost Price (CP) - Selling Price (SP)

We can rearrange this formula to find the cost price:

  • CP = Loss + SP

By plugging in the given values, we'll be one step closer to solving the problem. Don't worry, we'll take it nice and slow so everyone can follow along. The main thing here is to make sure we understand what we're trying to find and how the given information helps us find it. So, let's move on to the next step where we actually calculate the cost price.

Calculating the Cost Price

Alright, now for the math! We've already established that we need to find the cost price (CP) first. Using the formula we derived earlier:

  • CP = Loss + SP

We can plug in the values given in the problem. The selling price (SP) is Rs 12222, and the loss is Rs 888. So, the equation becomes:

  • CP = 888 + 12222

Adding these two numbers together, we get:

  • CP = Rs 13110

So, the cost price of the mobile set is Rs 13110. That's a crucial piece of the puzzle! We now know how much the man originally paid for the phone. Think of this as the baseline. To make a profit, he needs to sell it for more than this amount.

This step is super important because it connects the initial loss to the ultimate profit goal. Without knowing the cost price, we can't figure out the selling price needed to achieve the desired profit. It’s like trying to build a house without a foundation – it just won’t work! That's why taking the time to clearly understand and calculate the cost price is essential for solving the rest of the problem.

Now that we know the cost price, we can move on to the final step: calculating the selling price needed to make a profit of Rs 555. Get ready to use that cost price in another calculation. We're almost there, guys!

Determining the Selling Price for Profit

Okay, we're in the home stretch! We know the cost price of the mobile set is Rs 13110, and the man wants to make a profit of Rs 555. To calculate the selling price (SP) needed for this profit, we'll use another formula:

  • Selling Price (SP) = Cost Price (CP) + Profit

This formula makes perfect sense, right? To make a profit, the selling price needs to be higher than the cost price by the amount of the desired profit. Now, let's plug in the values we know:

  • SP = 13110 + 555

Adding these numbers gives us:

  • SP = Rs 13665

Therefore, the man needs to sell the mobile set for Rs 13665 to make a profit of Rs 555.

See? We solved it! By breaking the problem down into smaller steps – first finding the cost price, then using it to calculate the selling price for a profit – it became much easier to handle. This approach is really helpful for tackling all sorts of math problems, especially those involving profit and loss.

Think about it: we used the initial loss to uncover the original investment (cost price), and then used that information to plan for a profitable sale. That’s how businesses work in the real world, too! Understanding these concepts can help you make smart financial decisions in your own life. So, pat yourselves on the back, guys – you’ve just conquered a profit and loss problem!

Conclusion

So, to wrap things up, the man needs to sell his mobile phone for Rs 13665 to make a profit of Rs 555. We arrived at this answer by first calculating the cost price using the information about his initial loss, and then using the cost price to determine the selling price required for the desired profit.

This problem highlights the importance of understanding the relationship between cost price, selling price, profit, and loss. These are fundamental concepts in business and everyday financial transactions. By mastering these concepts, you can make informed decisions about buying and selling goods, whether it's a mobile phone or anything else!

Remember the key formulas we used:

  • CP = Loss + SP
  • SP = CP + Profit

Keep these formulas handy, and you'll be well-equipped to tackle similar problems in the future. And don't forget the strategy we used: break down the problem into smaller, more manageable steps. This makes complex problems much less intimidating and easier to solve.

I hope this explanation has been helpful! If you have any more math problems you'd like to explore, feel free to ask. Keep practicing, keep learning, and you'll become a math whiz in no time! Now go forth and conquer those calculations!