The profit made by selling article for Rs. 12400 is equal to the loss incurred on selling the same article at Rs. 10600. What will be the profit precent if it is sold for Rs. 14950?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 30
Given:
The profit made by selling article for Rs. 12400 is equal to the loss incurred on selling the same article at Rs. 10600
Formula used:
Profit = Selling price - cost price ---- (1)
Loss = Cost price - selling price ---- (2)
Profit% = (profit/cost price) × 100 ---- (3)
Calculations:
Using equation (1) and (2), we get
⇒ 12400 - CP = CP - 10600
⇒ 2CP = 23000
⇒ CP = 11500
Using equation (3), we get
Required profit% = [(14950 - 11500)/11500] × 100
⇒ 30%