Question

On selling a fan table in good condition for Rs. 1,600, Ravi gains 4%. Due to defect in table fan he sold it 9% loss. At which price he sold the table fan?
1. Rs. 2000
2. Rs. 1400
3. Rs. 1800
4. Rs. 1600

Answer 1

Correct Answer - Option 2 : Rs. 1400

Given:

Selling price = Rs. 1,600

Gain = 4%

Loss = 9%

Formula Used:

Selling price = Profit/ Cost price × 100

Selling price = Loss/ Cost price × 100

Profit = Selling price - Cost price

Loss = Cost price - Selling price

Calculation:

Let assume that cost price of table fan = Rs.100

Case:1

Gain = 4%

⇒ Gain = 100 × 4% = Rs.4

Selling Price = Cost price + Profit

⇒ Selling Price = Rs.100 + Rs.4

⇒ Selling Price = Rs.104

Cost price of table fan = 1600 × (100/104)

Case:2

⇒ Loss% = 9%

⇒ Loss = 100 × 9% = Rs. 9

Selling price = Cost price - Loss

⇒ Selling price = Rs.100 - Rs.9

⇒ Selling price = Rs. 91

⇒ Selling price = 1600 × (100/104) × (91/100)

(If he earns loss)

⇒ Rs. 1400

∴  He sold table fan in Rs. 1400

The correct option is 2 i.e. Rs. 1400