Solving a Real-life Cost and Profit Problem: A Comprehensive Guide for SEO Optimization

Understanding the principles of cost price, profit, and optimization is crucial for any business. This article will walk you through a practical problem involving a seller buying mangoes, and how to use the concepts of cost price, profit, and optimization to find the solution. This problem is a great example of real-life applications in accounting and sales.

Understanding the Problem

The problem involves Mr. Ong, who bought mangoes for Rs. 294, found that 16 of them were rotten, and then sold the remaining for a 40% increase in cost price, making a profit of Rs. 84. The goal is to determine the total number of mangoes Mr. Ong bought initially.

Step-by-Step Solution

We'll break down the problem step by step to understand the logic and calculations involved.

Understanding the Cost Price

Let's denote the total number of mangoes Mr. Ong bought as x196.

Calculating Cost Price per Mango

The cost price per mango is given by:

[text{Cost Price per Mango} frac{294}{x}]

Identifying the Number of Good Mangoes

Since 16 mangoes were rotten, the number of good mangoes he has left is:

[text{Good Mangoes} x - 16]

Selling Price Calculation

He sold the remaining mangoes at a 40% increase in the cost price. Thus, the selling price per mango is:

[text{Selling Price per Mango} frac{294}{x} times 1.4 frac{411.6}{x}]

Total Selling Price

The total selling price for the good mangoes is:

[text{Total Selling Price} frac{411.6}{x} times (x - 16)]

Profit Calculation

The profit can be calculated as:

[text{Profit} text{Total Selling Price} - text{Cost Price}]

Therefore, we can set up the equation:

[frac{411.6}{x} times (x - 16) - 294 84]

Simplifying this gives:

[frac{411.6(x - 16)}{x} 378]

Multiplying both sides by (x) to eliminate the fraction:

[411.6(x - 16) 378x]

Expanding and rearranging:

[411.6x - 6585.6 378x]

[33.6x 6585.6]

Solving for (x):

[x frac{6585.6}{33.6} 196]

Thus, Mr. Ong bought 196 mangoes.

Conclusion

This example illustrates how to apply the principles of cost price, profit, and sales optimization to solve practical business problems. Understanding these concepts can help improve financial management and overall business strategies.

Real-world Applications

By understanding how to calculate cost price, profit, and optimize sales, businesses can make more informed decisions, reduce waste, and increase profitability. Whether you're a small entrepreneur or a large business, these skills are crucial for success.

Optimization Strategies

For SEO optimization, incorporating keywords like 'cost price', 'profit', and 'optimization' can significantly improve your website's search engine rankings. This guide can serve as a valuable resource for businesses looking to enhance their SEO efforts.