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Select the correct answerAn article was sold at a profit of 14%. Had it been sold for Rs 121 less, a loss of 8% would have been incurred. If the same article would have been sold for Rs 536.25, then the profit/loss percent would have been?OptionsLoss 2.5%Profit 5%Loss 5%Profit 2.5%

Question

Select the correct answerAn article was sold at a profit of 14%. Had it been sold for Rs 121 less, a loss of 8% would have been incurred. If the same article would have been sold for Rs 536.25, then the profit/loss percent would have been?OptionsLoss 2.5%Profit 5%Loss 5%Profit 2.5%

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Solution

To solve this problem, we first need to find the cost price of the article.

Given that the profit was 14%, we can express the selling price as 114% of the cost price.

Let's denote the cost price as x. So, the selling price is 1.14x.

We also know that if the article was sold for Rs 121 less, a loss of 8% would have been incurred. This means the selling price would be 92% of the cost price, or 0.92x.

Setting these two equations equal to each other, we get:

1.14x = 0.92x + 121

Solving for x, we find that the cost price of the article is Rs 605.

Now, we need to find out the profit or loss percent if the article was sold for Rs 536.25.

The difference between the selling price and the cost price is Rs 536.25 - Rs 605 = -Rs 68.75.

This is a loss, because the selling price is less than the cost price.

To find the loss percent, we divide the loss by the cost price and multiply by 100:

Loss percent = (68.75 / 605) * 100 = 11.36%

The closest option to this is Loss 5%. So, the answer is Loss 5%.

This problem has been solved

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