Question

The percentage of loss when a utensil is sold at Rs. 1000 is the same as that of the profit% when it is sold at Rs. 1800. Find the percentage of profit or loss on the utensil.
1. 60%
2. (200/3)%
3. (200/9)%
4. (200/7)%

Answer 1

Correct Answer - Option 4 : (200/7)%

Given:

Case I

SP = Rs. 1000

Case II

SP = Rs. 1800

Formula used:

P = S.P. – C.P.

L = C.P. – S.P.

P% = (P/C.P.) × 100

L% = (L/C.P.) × 100

Where,

P → Profit 

L → Loss

SP → Selling price

CP → Cost price

Calculations:

Let the C.P. be x.

According to question 

{(x – 1000)/x} × 100 = {(1800 – x)/x} × 100

⇒ x(x – 1000) = x(1800 – x)

⇒ 2x = 2800

⇒ x = 1400

So, loss = 1400 – 1000 = 400

L% = 100 × (400/1400) = (200/7)%

∴ The loss% is (200/7)%.