Question

A book was sold for Rs. $27.50$ with a profit of $10\%$. If it were sold for Rs. $25.75$, then what would have been the percentage of profit or loss?

• A. Loss, $3\%$
• B. Profit, $2\%$
• C. Profit, $3\%$
• D. Loss, $2\%$

Answer 1

The correct option is C Profit, $3\%$

Given book was sold with a 10% profit for Rs. $27.50$.

Let the book was brought for Rs.$x$

For $\text{Selling price}=$ Rs. $27.50$

$\Rightarrow 10=\frac{\text{Selling price}-\text{Purchased price}}{\text{Purchased price}}\times 100$

$\Rightarrow 10=\frac{27.50-x}{x}\times 100$

$\Rightarrow 10x=(27.50-x)\times 100$

$\Rightarrow 10x=2750-100x$

$\Rightarrow 110x=2750$

$\Rightarrow x=\frac{2750}{110}=25$

Thus,book was purchased for Rs. $25$.

If book was sold for Rs. $25.75$

$\text{Profit}=\frac{\text{Selling price}-\text{Purchased price}}{\text{Purchased price}}\times 100$

$=\frac{25.75-25}{25}\times 100=3$

Profit of $3\%$ have been there if book is sold at Rs. $25.75$.

Option (C) is correct.