Question

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

Answer 1

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

Given that
Anima bought a book for Rs 275.
So the Cost price, CP = Rs 275.

$\text{Loss}\%=15\%$

$\text{Loss}=15\%of275$

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

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

$\text{Loss}=41.25$

$\text{Selling price}=\text{Cost price}-\text{Loss}$

$\text{Selling price}=275-41.25$

$\text{Selling price}=Rs.233.75$

Hence she sold it at Rs 233.75.

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

Now, Profit % $=\frac{\text{profit}}{\text{Cost Price}}\times 100$

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

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