Question
Download Solution PDFA shopkeeper sold a pair of headphones for Rs. 5,520 at a gain of 20%. What would have been the gain or loss percent if it had been sold for Rs. 4,370?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDF
A shopkeeper sold a pair of headphones for Rs. 5,520 at a gain of 20%.
Formula used:-
Gain percent= [(Selling Price−Cost Price) ×100]/Cost price
Loss percent= [(Cost Price - Selling Price) ×100]/Cost price
Calculation:-
SP = CP + Gain 5520
⇒ 5520 = CP + (20 × CP)/100
⇒ (120/100 CP) = 5520
⇒ CP = 4600
Loss percent = [( 4600− 4370 )/4600] × 100
⇒ ( 230/4600) × 100 = 5%
∴ If the headphones were sold for Rs. 4,370, there would be a loss of 5%.
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