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Profit earned by a shopkeeper when an article is sold for Rs708 is equal to the loss incurred by him when it is sold for Rs 492. Find theloss percentage when the shopkeeper sells the article for Rs 492.18% Loss22% loss4% Loss20% loss

Question

Profit earned by a shopkeeper when an article is sold for Rs708 is equal to the loss incurred by him when it is sold for Rs 492. Find theloss percentage when the shopkeeper sells the article for Rs 492.18% Loss22% loss4% Loss20% loss

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Solution

The problem states that the profit when the item is sold for Rs 708 is equal to the loss when it is sold for Rs 492. This means that the cost price of the item is halfway between these two amounts.

Step 1: Calculate the average of Rs 708 and Rs 492.

(708 + 492) / 2 = Rs 600

So, the cost price of the item is Rs 600.

Step 2: Calculate the loss when the item is sold for Rs 492.

Loss = Cost price - Selling price Loss = Rs 600 - Rs 492 = Rs 108

Step 3: Calculate the loss percentage.

Loss % = (Loss / Cost price) * 100 Loss % = (108 / 600) * 100 = 18%

So, the loss percentage when the shopkeeper sells the article for Rs 492 is 18% loss.

This problem has been solved

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