Ritika bought each set of 10 shirts at Rs. 8000 and sold at Rs. 9000 for each set of 12 shirts. Find out the profit or loss percentage.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e 6.25% loss
The cost price of 10 shirts = Rs 8000
Thus, the cost price of 1 shirt = Rs 800
The selling price of 12 shirts = Rs 9000
Selling price of 1 shirt = 9000/12 = Rs 750
Loss% = (Cost price- Selling price)/Cost price × 100
Thus, the loss % = [{800 - 750}/800] × 100 = {50/800} × 100 = 6.25%