By selling an article for ₹254.38, there is again of 10.6% please stop if it is sold for ₹224.25, then the loss/gain percentage will be:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. loss, 2.5%.
Given:
Selling price = ₹ 254.38
Final selling price = ₹ 224.25
Calculations:
Let the cost price be x and gain = 10.6%
Selling price = x × 110.6/100
⇒ 254.38/1.106 = x
⇒ x = 230
Now final selling price = 224.25
Loss% = [(230 - 224.25)/230] × 100
⇒ (5.75/230) × 100
⇒ 2.5%