Question

By selling on article for $Rs950$, a man loses $5\%$. If he had sold it for $Rs.1,220$, the gain would be

• A. $20\%$
• B. $22\%$
• C. $24\%$
• D. $26\%$

Answer 1

The correct option is B $22\%$

Selling price of article $=950$ Rs, Loss $=5\%$

We know that $SP=CP-Loss$

$\Rightarrow 950=CP-5\%ofCP$

$\Rightarrow 950=CP-0.05\times CP$

$\Rightarrow 950=0.95\times CP$

$\therefore CP=\frac{950}{0.95}=1000Rs$

Now, Selling Price $\left(SP\right)=1220$ Rs

Here $SP>CP$, there will be a profit.

$\therefore$ Profit $=SP-CP=1220-1000=220Rs$

$\Rightarrow Profitpercentage=\frac{Profit\times 100}{CP}=\frac{220\times 100}{1000}=22\%$