Correct Answer - Option 4 : Rs. 88
Given:
The selling price of an article is = Rs. 616
Profit obtained = 12%
New SP of the article = Rs 462
Concept used:
Selling price = Cost price × (100 + P)%
Selling price = Cost price - loss
Calculation:
616 = Cost price × (100 + 12)/100
616 × 100/112 = Rs 550 = cost price
Loss = Cost price - Sellinf price
Loss = 550 - 462 = Rs 88.
∴ The will be a loss of Rs 88 if the article is sold at Rs 462.