Select the correct answerA book was sold for Rs.150 with a profit of 12%. If it were sold for Rs.135 then what would have been the percentage of profit or loss?Options17%12%21%23%
Question
Select the correct answerA book was sold for Rs.150 with a profit of 12%. If it were sold for Rs.135 then what would have been the percentage of profit or loss?Options17%12%21%23%
Solution
To solve this problem, we first need to find the cost price of the book.
Given that the book was sold for Rs.150 with a profit of 12%, we can use the formula:
Selling Price = Cost Price + Profit
Rearranging the formula to find the cost price gives us:
Cost Price = Selling Price - Profit
We know that the profit is 12% of the cost price, so we can write this as:
Cost Price = Selling Price - 0.12*Cost Price
Solving for Cost Price gives us:
Cost Price = Selling Price / 1.12
Substituting the given selling price of Rs.150, we find:
Cost Price = 150 / 1.12 = Rs.133.93 (approximately)
Now, if the book were sold for Rs.135, we can find the new profit or loss percentage using the formula:
Profit or Loss % = ((Selling Price - Cost Price) / Cost Price) * 100
Substituting the values we have:
Profit or Loss % = ((135 - 133.93) / 133.93) * 100 = 0.8% (approximately)
So, if the book were sold for Rs.135, the profit would be approximately 0.8%. This option is not given in the question, so the correct answer is that there would be less than 1% profit.
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