Question25Max. score: 2.00Alice purchased a beautiful ring and sold it after 5 years What profit/loss per cent did she earn if she bought it for $6500 and sold it at three-fourth of its cost price?+0.2-0.25+0.15-0.3
Question
Question25Max. score: 2.00Alice purchased a beautiful ring and sold it after 5 years What profit/loss per cent did she earn if she bought it for $6500 and sold it at three-fourth of its cost price?+0.2-0.25+0.15-0.3
Solution
To calculate the profit/loss percentage, we need to determine the selling price and the cost price of the ring.
Given: Cost price = $6500 Selling price = three-fourth of the cost price
Step 1: Calculate the selling price Selling price = (3/4) * cost price Selling price = (3/4) * 4875
Step 2: Calculate the profit/loss Profit/Loss = Selling price - Cost price Profit/Loss = 6500 Profit/Loss = -$1625
Since the profit/loss is negative, it indicates a loss.
Step 3: Calculate the profit/loss percentage Profit/Loss percentage = (Profit/Loss / Cost price) * 100 Profit/Loss percentage = (-6500) * 100 Profit/Loss percentage = -25%
Therefore, Alice incurred a loss of 25% when she sold the ring after 5 years.
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