A shopkeeper sold cashew nuts at the rate Rs 1,260 a kg and bears a loss of 8%. Now if he decides to sell it at Rs 1,386 per kg, what will be the result?
- A1.2 percent gain
- B2.4 percent gain
- C1.2 percent loss
- D2.4 percent loss
Solution & Step-by-step Explanation
Given:
Selling Price (SP
1
) = Rs. 1260
Loss = 8%
Let the Cost Price be CP.
CP=
100−Loss%
SP
1
×100
CP=
92
1260×100
=
92
126000
=Rs. 1369.565
New Selling Price (SP
2
) = Rs. 1386
Since SP
2
>CP, there is a gain.
Gain=SP
2
−CP=1386−
92
126000
=
92
127512−126000
=
92
1512
Gain%=(
CP
Gain
)×100=(
92
126000
92
1512
)×100
Gain%=
126000
1512
×100=
1260
1512
=1.2%
Selling Price (SP
1
) = Rs. 1260
Loss = 8%
Let the Cost Price be CP.
CP=
100−Loss%
SP
1
×100
CP=
92
1260×100
=
92
126000
=Rs. 1369.565
New Selling Price (SP
2
) = Rs. 1386
Since SP
2
>CP, there is a gain.
Gain=SP
2
−CP=1386−
92
126000
=
92
127512−126000
=
92
1512
Gain%=(
CP
Gain
)×100=(
92
126000
92
1512
)×100
Gain%=
126000
1512
×100=
1260
1512
=1.2%