A pen was sold for Rs.166.44 with a profit of 14%. If it were sold for Rs.154.76, then
what would have been the percentage of profit or loss?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e 6% profit.
Given:
Selling price after a profit of 14% = 166.44
Formula used:
Selling price = Cost price + Cost price × profit%
Calculations:
Let the cost price be x.
Using the above equation, we get
⇒ 166.44 = 1.14x
⇒ x = 146
When it is sold for 154.76
Profit = 154.76 - 146 = 8.76
Required profit% = (8.76/146) × 100 = 6%