Question

A property dealer sells a site for 6,30,000 and makes a profit of 5%. Had he sold it for. 5,00,000, then the percentage of profit or loss he would have made is

• A. $2\frac{1}{4}\%$ gain
• B. 10% loss
• C. $12\frac{1}{2}\%$ loss
• D. $16\frac{2}{3}\%$ loss

Answer 1

The correct option is D $16\frac{2}{3}\%$ loss

SP of the property $=6,30,000$
Profit $=5\%$
If selling price is 105, $CP=100$
If selling price is 6,30,000, $CP=\frac{100}{105}\times 6,30,000=6,00,000$
If it is sold for 5,00,000, then loss $=1,00,000$
For 600000, loss $=1,00,000$
For 100, loss $=\frac{100000}{600000}\times 100=16\frac{2}{3}\%$