An article is sold for Rs. 1992 at a loss of 17 percent. If it is sold at Rs.…
2021
An article is sold for Rs. 1992 at a loss of 17 percent. If it is sold at Rs. 2760, then what is the profit/loss?
- A.
12.5 percent loss
- B.
15 percent loss
- C.
12.5 percent profit
- D.
15 percent profit
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Correct answer: D
Solution:
Find the cost price (CP). Given selling price 1992 is at 17% loss, so 1992 = CP × (1 − 0.17) = CP × 0.83.
Thus CP = 1992 ÷ 0.83 = 2400.
Now if the article is sold at 2760, profit = 2760 − 2400 = 360.
Profit percentage = (360 ÷ 2400) × 100 = 15%.
Answer: 15 percent profit.