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An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the seller
  • a)
    25% profit
  • b)
    20% profit
  • c)
    25% loss
  • d)
    20% loss
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
An article is sold for rupees 400 in which the seller fetches 25% prof...
Given:
- Selling price of 1 article = Rs. 400
- Profit percentage = 25%

To Find:
- Profit/loss percentage when 6 such articles are sold for Rs. 2400

Calculating Profit:
Let's calculate the cost price of 1 article.
- Selling price = Cost price + Profit
- Rs. 400 = Cost price + 25% of Cost price
- Rs. 400 = Cost price + 0.25 * Cost price
- Rs. 400 = 1.25 * Cost price
- Cost price = Rs. 400 / 1.25
- Cost price = Rs. 320

So, the cost price of 1 article is Rs. 320.

Calculating Total Cost Price:
Since 6 articles are sold for Rs. 2400, the total selling price is Rs. 2400.
- Total selling price = Selling price of 1 article * Number of articles
- Rs. 2400 = Rs. 400 * 6

Now, let's calculate the total cost price of 6 articles.
- Total cost price = Cost price of 1 article * Number of articles
- Total cost price = Rs. 320 * 6
- Total cost price = Rs. 1920

Calculating Profit/Loss Percentage:
Profit/loss percentage can be calculated using the formula:
- Profit/loss percentage = (Profit/loss amount / Cost price) * 100

In this case, the profit/loss amount is the difference between the total selling price and the total cost price.
- Profit/loss amount = Total selling price - Total cost price
- Profit/loss amount = Rs. 2400 - Rs. 1920
- Profit/loss amount = Rs. 480

Now, let's calculate the profit/loss percentage.
- Profit/loss percentage = (Rs. 480 / Rs. 1920) * 100
- Profit/loss percentage = 25%

So, the seller incurred a 25% loss. Hence, the correct answer is option 'C'.
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An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the sellera)25% profitb)20% profitc)25% lossd)20% losse)None of theseCorrect answer is option 'C'. Can you explain this answer?
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An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the sellera)25% profitb)20% profitc)25% lossd)20% losse)None of theseCorrect answer is option 'C'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the sellera)25% profitb)20% profitc)25% lossd)20% losse)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the sellera)25% profitb)20% profitc)25% lossd)20% losse)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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