A table when sold for ₹11,480 gives a loss of 18%. Calculate the loss or gain percentage when the same table is sold ₹15,540.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 11% profit.
The selling price (S.P.) of the table at a loss of 18% is ₹11,480
Loss% = Loss/CP × 100 and,
Loss = C.P. - S.P.
here, C.P. = Cost price, S.P. = Selling Price
So,
⇒ S.P. = C.P. × (1 - 18/100)
⇒ 11480 = C.P. × 0.82
⇒ C.P. = 11480/0.82
⇒ C.P. = ₹14000
⇒ S.P. = ₹15540
here, S.P. > C.P. so, profit occurs
Thus,
Profit% = (15540 - 14000)/14000 × 100
⇒ 1540/14000 × 100 = 11%
Hence, When the table is sold for ₹15,540, there is a profit of 11%