A man sells two articles for Rs.3974 each. He sells first article at 25% profit. At what loss % he would have sold second article, if there is neither profit nor loss in whole transaction?Options15.50%12.50%13.67%16.66%
Question
A man sells two articles for Rs.3974 each. He sells first article at 25% profit. At what loss % he would have sold second article, if there is neither profit nor loss in whole transaction?Options15.50%12.50%13.67%16.66%
Solution
To solve this problem, we need to first understand that the total cost price of both articles is the same as the total selling price of both articles, since there is no overall profit or loss.
Step 1: Calculate the cost price of the first article.
We know that the selling price of the first article is Rs.3974 and it was sold at a 25% profit. So, the cost price (CP) of the first article can be calculated using the formula:
CP = Selling Price / (1 + Profit%)
CP = 3974 / (1 + 25/100) = Rs.3179.2
Step 2: Calculate the total cost price of both articles.
Since there is no overall profit or loss, the total cost price of both articles is the same as the total selling price of both articles, which is Rs.3974 * 2 = Rs.7948.
Step 3: Calculate the cost price of the second article.
The cost price of the second article is the total cost price of both articles minus the cost price of the first article.
So, the cost price of the second article = Rs.7948 - Rs.3179.2 = Rs.4768.8
Step 4: Calculate the loss percentage on the second article.
We know that the selling price of the second article is Rs.3974 and we have calculated the cost price as Rs.4768.8. The loss percentage can be calculated using the formula:
Loss% = (CP - SP) / CP * 100
Loss% = (4768.8 - 3974) / 4768.8 * 100 = 16.66%
So, the man would have sold the second article at a loss of 16.66%. Therefore, the correct answer is 16.66%.
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