Question

Amina buys a book for ₹ 275 and sells it at a loss $15\%$. How much does she sell it for? If she had sold it for ₹ 286 calculate the profit percent.
[4 MARKS]

Answer 1

Concept: 1 Mark
Application: 1 Mark
Each Answer: 1 Mark

Given that
Amina bought a book for ₹ 275.
So the Cost price, CP = ₹ 275.

$Loss\%=15\%$

$Loss=15\%of275$

$Loss=\frac{15}{100}\times 275$

$Loss=\frac{4125}{100}$

$Loss=41.25$

$Sellingprice=Costprice-Loss$

$Sellingprice=275-41.25$

$Sellingprice=₹233.75$

Hence she sold it at ₹ 233.75.

If she has sold at ₹ 286,
The selling price, SP = ₹ 286
Profit = SP - CP
$\therefore$ On substituting the values we get, Profit = (286 - 275) = ₹ 11

Now, Profit % $=\frac{profit}{CostPrice}\times 100$

Profit % $=\frac{11}{275}\times 100=4$

$\therefore$ Had she sold it at ₹ 286 her profit% would have been 4%.