Question

To any person Rs. 4,760 there is a loss of 15 per cent by selling the cycle. If he selling this cycle for Rs. 5,880, then find the profit or loss percentage made by him.
1. 5 percent loss
2. 4 percent profit
3. 5 percent profit
4. 4 percent loss

Answer 1

Correct Answer - Option 3 : 5 percent profit

Given:

By selling a bicycle for Rs. 4760, the person incurs a loss of 15%

Formula used:

Loss = CP - SP

Profit = SP - CP

Profit % = (Profit/CP) × 100

Loss % = (Loss/CP) × 100

CP = Cost price; SP = Selling price

Calculation:

4760 = 0.85CP

⇒ CP = 5600

Also, Profit in second case = 5880 - 5600 = 280

Profit % = (280/5600) × 100

∴ Profit = 5%