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The selling price of 23 articles is the same as the cost price of 20 articles. The retailer
- a)makes a profit of 15%
- b)suffers a loss of 15%
- c)does not suffer any loss nor has any profit
- d)none of these
Correct answer is option 'D'. Can you explain this answer?
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The selling price of 23 articles is the same as the cost price of 20 articles.
Let's assume the cost price of each article is $1. Therefore, the cost price of 20 articles would be $20.
According to the given information, the selling price of 23 articles is equal to the cost price of 20 articles. This means that the selling price of 23 articles is also $20.
Therefore, the selling price per article can be calculated as follows:
Selling price per article = Selling price of 23 articles / 23
Selling price per article = $20 / 23 ≈ $0.87
The retailer:
The retailer sells each article for $0.87, which is less than the cost price of $1. This indicates that the retailer is selling at a lower price and, therefore, suffering a loss.
Loss percentage:
To calculate the loss percentage, we can use the formula:
Loss percentage = (Cost price - Selling price) / Cost price × 100
In this case, the cost price is $1 and the selling price is $0.87. Plugging these values into the formula, we get:
Loss percentage = (1 - 0.87) / 1 × 100
Loss percentage = 0.13 / 1 × 100
Loss percentage = 13%
Therefore, the retailer suffers a loss of 13%.
Conclusion:
The correct option is 'D' - none of these. The retailer suffers a loss of 13%, which is not listed as one of the given options.
Let's assume the cost price of each article is $1. Therefore, the cost price of 20 articles would be $20.
According to the given information, the selling price of 23 articles is equal to the cost price of 20 articles. This means that the selling price of 23 articles is also $20.
Therefore, the selling price per article can be calculated as follows:
Selling price per article = Selling price of 23 articles / 23
Selling price per article = $20 / 23 ≈ $0.87
The retailer:
The retailer sells each article for $0.87, which is less than the cost price of $1. This indicates that the retailer is selling at a lower price and, therefore, suffering a loss.
Loss percentage:
To calculate the loss percentage, we can use the formula:
Loss percentage = (Cost price - Selling price) / Cost price × 100
In this case, the cost price is $1 and the selling price is $0.87. Plugging these values into the formula, we get:
Loss percentage = (1 - 0.87) / 1 × 100
Loss percentage = 0.13 / 1 × 100
Loss percentage = 13%
Therefore, the retailer suffers a loss of 13%.
Conclusion:
The correct option is 'D' - none of these. The retailer suffers a loss of 13%, which is not listed as one of the given options.
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The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer?
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The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer? for Teaching 2024 is part of Teaching preparation. The Question and answers have been prepared according to the Teaching exam syllabus. Information about The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Teaching 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer?.
The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer? for Teaching 2024 is part of Teaching preparation. The Question and answers have been prepared according to the Teaching exam syllabus. Information about The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Teaching 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The selling price of 23 articles is the same as the cost price of 20 articles. The retailera)makes a profit of 15%b)suffers a loss of 15%c)does not suffer any loss nor has any profitd)none of theseCorrect answer is option 'D'. Can you explain this answer?.
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