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An 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?OptionsProfit 2.5%Loss 2.5%Profit 5%Loss 5%

Question

An 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?OptionsProfit 2.5%Loss 2.5%Profit 5%Loss 5%

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Solution

Let's solve this step by step:

  1. Let's assume the cost price of the article is Rs x.

  2. According to the problem, the article was sold at a profit of 14%. So, the selling price of the article is 114% of x, which is 1.14x.

  3. The problem also states that if the article had been sold for Rs 121 less, a loss of 8% would have been incurred. So, the selling price in this case would be 92% of x, which is 0.92x.

  4. We can set up the equation 1.14x - 0.92x = Rs 121, which simplifies to 0.22x = Rs 121. Solving for x, we find that x = Rs 550.

  5. Now, if the same article is sold for Rs 536.25, we can calculate the profit or loss percent. The formula for profit or loss percent is ((Selling Price - Cost Price) / Cost Price) * 100.

  6. Substituting the given values into the formula, we get ((Rs 536.25 - Rs 550) / Rs 550) * 100 = -2.5%.

  7. Since the result is negative, it means a loss has been incurred. So, the answer is Loss 2.5%.

This problem has been solved

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