Ravi gains 12.5% by selling an article for Rs. 157.50. If he sells it for Rs. 147, then what is his loss/gain percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Gain 5%
Cost price of the article = SP × 100/(100 + Profit%)
157.5 × 100/(100 + 12.5) = Rs 140
New Sp = 147
So, Profit percentage = (147 - 140)/140 × 100 = 5%