Question

A loss was incurred on selling a TV and a fridge. The selling price of TV was Rs.1000 less than the selling price of a fridge. The Cost price of the TV and the fridge were same. The selling price of the fridge was Rs. 16000. The fridge was bought for a price which is 160% of the selling price of the TV. Find the loss percentage of the fridge.

1. 28.5%
2. 31.5%
3. 33.33%
4. 40.5%

Answer 1

Correct Answer - Option 3 : 33.33%

Given:

A loss was incurred on selling a TV and a fridge. The selling price of TV was Rs.1000 less than the selling price of a fridge

The Cost price of the Tv and the fridge were same.

The selling price of the fridge was Rs. 16000.

The fridge was bought for a price which is 160% of the selling price of the TV.

Formula used:

Profit or Gain = Selling price – Cost Price

Loss = Cost Price – Selling Price

Profit percentage = (Profit / Cost Price) × 100

Loss percentage = (Loss / Cost price) × 100

Calculation:

SP of fridge = Rs. 16000

Selling price of Tv = Rs. (16000 – 1000)

⇒ Rs. 15000

Let CP of each be Rs. X.

⇒ X = Rs. (1.6 ×15000)

⇒ X = Rs. 24000

Loss% of fridge = {(24000 - 16000)/24000} × 100%

⇒ 33.33%

∴ loss % of fridge is 33.33%