By selling a mobile phone for ₹23,856, Ramesh gains 20%. If he sells it for ₹20,580, find his gain or loss percentage (correct to two places of decimals).
- ALoss 3.52%
- BGain 5.32%
- CGain 3.52%
- DLoss 5.32%
Solution & Step-by-step Explanation
Let the Cost Price (CP) of the mobile phone be c.
When sold for ₹23,856, the gain is 20%:
1.20×c=23856
c=
1.2
23856
=
12
238560
=19880
So, the cost price is ₹19,880.
Now, the new Selling Price (SP) is ₹20,580.
Since SP>CP, it is a gain.
Gain=SP−CP=20580−19880=₹700
Gain Percentage=
CP
Gain
×100=
19880
700
×100=
198
7000
≈3.535%≈3.52% (matching option values precision)
Let's check more closely:
1988
7000
=
497
1750
≈3.5211%
Thus, there is a gain of 3.52%.
When sold for ₹23,856, the gain is 20%:
1.20×c=23856
c=
1.2
23856
=
12
238560
=19880
So, the cost price is ₹19,880.
Now, the new Selling Price (SP) is ₹20,580.
Since SP>CP, it is a gain.
Gain=SP−CP=20580−19880=₹700
Gain Percentage=
CP
Gain
×100=
19880
700
×100=
198
7000
≈3.535%≈3.52% (matching option values precision)
Let's check more closely:
1988
7000
=
497
1750
≈3.5211%
Thus, there is a gain of 3.52%.