An article when sold for Re 4600 makes a 15% profit. Find the profit or loss %…
2024
An article when sold for Re 4600 makes a 15% profit. Find the profit or loss % if it was sold for Re 3600.
- A.
10% gain
- B.
11% loss
- C.
10% loss
- D.
12% loss
Attempted by 22 students.
Show answer & explanation
Correct answer: C
To find the profit or loss percentage when the article is sold for Re 3600, first calculate the cost price using the given selling price and profit percentage. Since a 15% profit on the cost price results in a selling price of Re 4600, the cost price is calculated as 4600 / 1.15 = Re 4000. When the article is sold for Re 3600, there is a loss of 4000 - 3600 = Re 400. The loss percentage is (400 / 4000) * 100 = 10%. Therefore, the correct answer is a 10% loss.