A shopkeeper sold two articles for ₹560 each. He incurred…

A shopkeeper sold two articles for ₹560 each. He incurred no loss and made no profit in the transaction because one article was sold at a loss of $16{{2} \over 3}$ % and the other article was sold at a profit of:

Show answer & explanation

Correct answer: A

Explanation

The correct answer is Option 1 i.e. 25%.

Loss on 1st article = $16{{2} \over 3}$ % = $1\over6$

So, CP = $560\over(1-{1\over6})$ = ₹672

Total SP = ₹1120

So, CP of 2nd article = 1120 − 672 = ₹448

Profit = 560 - 448 = ₹112

Profit% = $112\over448$ × 100 = 25%

SSC Selection Post 2022 PYQ — Question 69