By selling a computer for Rs.26,000, a man gains 4%. If he sells the computer for Rs.19,000, then his loss will be:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 24%
Given that
S.P. of a computer = Rs 26000
Gain % = 4%
New S.P. of the computer = Rs 19000
Formula used
Gain % = [(S.P. - C.P.)/C.P.] × 100
Calculation
⇒ 4 = [(26000 - C.P.)/C.P.] × 100
⇒ 0.04 = (26000/C.P.) - 1
⇒ C.P. = 26000/1.04 = Rs 25000
Now, S.P = Rs 19000
⇒ loss % = (C.P - new S.P/C.P.) × 100
⇒ [(25000 - 19000)/25000] × 100
⇒ 6000/250 = 24%