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By selling an item at a price a trader gains 40%. What is the profit / loss % if the item is sold at half the price?
- a)30% profit
- b)60% profit
- c)30% loss
- d)45% loss
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
By selling an item at a price a trader gains 40%. What is the profit /...
S.P. =1.4 C.P.
(S.P. /2) = 0.7 C.P.
Therefore, 30% loss
(S.P. /2) = 0.7 C.P.
Therefore, 30% loss
Most Upvoted Answer
By selling an item at a price a trader gains 40%. What is the profit /...
Solution:
Let's assume the cost price of the item is $100.
Given that the trader gains 40% profit when selling the item at its original price, the selling price would be:
Selling price = Cost price + Profit
Profit = 40% of Cost price = 40/100 * 100 = $40
Selling price = $100 + $40 = $140
Profit Percentage:
Profit Percentage = (Profit / Cost price) * 100
Profit Percentage = (40 / 100) * 100 = 40%
Selling at Half Price:
Now, let's consider the scenario where the item is sold at half the price, i.e., $70.
In this case, the trader would incur a loss because the selling price is lower than the cost price.
Loss Amount:
Loss = Cost price - Selling price
Loss = $100 - $70 = $30
Loss Percentage:
Loss Percentage = (Loss / Cost price) * 100
Loss Percentage = (30 / 100) * 100 = 30%
Therefore, if the item is sold at half the price, the trader incurs a loss of 30%. Hence, the correct answer is option 'C' - 30% loss.
Let's assume the cost price of the item is $100.
Given that the trader gains 40% profit when selling the item at its original price, the selling price would be:
Selling price = Cost price + Profit
Profit = 40% of Cost price = 40/100 * 100 = $40
Selling price = $100 + $40 = $140
Profit Percentage:
Profit Percentage = (Profit / Cost price) * 100
Profit Percentage = (40 / 100) * 100 = 40%
Selling at Half Price:
Now, let's consider the scenario where the item is sold at half the price, i.e., $70.
In this case, the trader would incur a loss because the selling price is lower than the cost price.
Loss Amount:
Loss = Cost price - Selling price
Loss = $100 - $70 = $30
Loss Percentage:
Loss Percentage = (Loss / Cost price) * 100
Loss Percentage = (30 / 100) * 100 = 30%
Therefore, if the item is sold at half the price, the trader incurs a loss of 30%. Hence, the correct answer is option 'C' - 30% loss.
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By selling an item at a price a trader gains 40%. What is the profit / loss % if the item is sold at half the price?a)30% profitb)60% profitc)30% lossd)45% lossCorrect answer is option 'C'. Can you explain this answer?
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