If the selling price of 50 articles is equal to the cost price of 42 articles, what is the approximate loss or profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 16% loss.
Profit% or Loss% = [(The difference between S.P and CP.)/C.P]/100
If S.P > C.P = profit
If C.P > S.P = Loss
Now,
Let the C.P of one article be x and the S.P of one article is y
C.P for the 42 articles will be = 42x
S.P for the 50 articles will be = 50y
Now according to the question
⇒ C.P = S.P
⇒ 42x = 50y
⇒ x : y = 50 : 42 = 25 : 21
Here C.P. is 25 and S.P. is 21
So, C.P > S.P = loss
Loss = C.P - S.P = 25 - 21 = 4
Loss% = (4/25) × 100 = 4 × 4 = 16%