By selling a cup for Rs. 1792 a man earns a profit of 12 percent. If he sells it for Rs. 1472, then what will be the loss percent?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 8 percent.
The selling price of a cup (S.P.) = Rs. 1792
The profit percentage = 12%
The cost price of the cup (C.P.) = [100/(100 + Profit%)] × S.P.
= [100/(100 + 12)] × 1792
= (100/112) × 1792
= 1600
The new selling price (S.P.1) = Rs. 1472
Loss = C.P. - S.P.1 = 1600 - 1472 = Rs. 128
Loss percentage = (Loss/C.P.) × 100% = (128/1600) × 100% = 8%
Therefore, the loss percent is 8 percent.