A man sold an article for ₹9,700 and earned a profit of 25%. What would have been his profit or loss per cent (to the nearest integer), had he sold it for ₹8,400?
- ALoss, 9%
- BLoss, 8%
- CProfit, 8%
- DProfit, 9%
Solution & Step-by-step Explanation
Given:
Selling Price (SP
1
) = ₹9,700
Profit percentage = 25%
Let the Cost Price be CP.
SP
1
=CP×(1+
100
Profit%
)
9700=CP×(1+
100
25
)
9700=CP×
100
125
=CP×
4
5
CP=
5
9700×4
=1940×4=₹7,760
Now, the new Selling Price (SP
2
) = ₹8,400.
Since SP
2
>CP, there is a profit.
Profit=SP
2
−CP=8400−7760=₹640
Profit Percentage=(
CP
Profit
)×100
Profit Percentage=(
7760
640
)×100≈8.247%
Rounding to the nearest integer, we get a Profit of 8%.
Selling Price (SP
1
) = ₹9,700
Profit percentage = 25%
Let the Cost Price be CP.
SP
1
=CP×(1+
100
Profit%
)
9700=CP×(1+
100
25
)
9700=CP×
100
125
=CP×
4
5
CP=
5
9700×4
=1940×4=₹7,760
Now, the new Selling Price (SP
2
) = ₹8,400.
Since SP
2
>CP, there is a profit.
Profit=SP
2
−CP=8400−7760=₹640
Profit Percentage=(
CP
Profit
)×100
Profit Percentage=(
7760
640
)×100≈8.247%
Rounding to the nearest integer, we get a Profit of 8%.