Question

The selling price of an article with 16.5% profit was Rs.466. Had it been sold for Rs.330, what would have been the percentage loss?
1. 17.25
2. 17.75
3. 17
4. 17.5

Answer 1

Correct Answer - Option 4 : 17.5

Given:

Selling price at 16.5% profit = Rs.466 

Formulas used:

Selling Price = Cost Price × (100 + Profit)% 

Selling Price = Cost Price × (100 - Profit)% 

Loss Percentage = Loss/Cost Price × 100 

Calculation:

Rs.466 = Cost Price × (100 + 16.5)% 

⇒ Cost Price = 466/116.5% 

⇒ Cost Price = 4 × 100 

⇒ Cost Price = Rs.400 

New Selling Price = Rs.330

⇒ Loss = Cost Price - Selling Price 

⇒ Rs.400 - Rs.330 = Rs.70 

∴ Loss Percentage = 70/400 × 100 

⇒ 17.5%