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What profit will be made by selling an article at a certain price, if there is a loss of 10% incurred by selling it at 2/3 of that price?
- a)10%
- b)15%
- c)25%
- d)35%
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
What profit will be made by selling an article at a certain price, if ...
Profit Calculation:
Let's assume the cost price of the article is C.
According to the question, there is a loss of 10% incurred by selling it at 2/3 of the price.
Selling price (SP) = 2/3 * C
Loss = 10% of C
To calculate the profit, we need to find the difference between the selling price and the cost price.
Profit = SP - CP
Since we are given the loss percentage, we need to convert it into profit percentage.
Loss Percentage = (Loss / CP) * 100
Since Loss Percentage = 10%, we can write the equation as:
10 = (Loss / CP) * 100
Solving for Loss, we get:
Loss = (10/100) * CP
Loss = CP/10
Given that SP = 2/3 * CP, we can substitute these values into the profit equation:
Profit = (2/3 * CP) - CP
Profit = (2/3 - 1) * CP
Profit = (-1/3) * CP
The profit is negative because there is a loss.
Now, we need to find the profit percentage.
Profit Percentage = (Profit / CP) * 100
Substituting the value of profit, we get:
Profit Percentage = ((-1/3) * CP / CP) * 100
Profit Percentage = (-1/3) * 100
Profit Percentage = -33.33%
Since the profit percentage is negative, it means there is a loss of 33.33%.
However, the options provided in the question are in positive profit percentages. Therefore, we need to find the absolute value of the profit percentage.
Absolute Profit Percentage = |-33.33%|
Absolute Profit Percentage = 33.33%
The closest option to 33.33% is option 'D' which states 35%.
Let's assume the cost price of the article is C.
According to the question, there is a loss of 10% incurred by selling it at 2/3 of the price.
Selling price (SP) = 2/3 * C
Loss = 10% of C
To calculate the profit, we need to find the difference between the selling price and the cost price.
Profit = SP - CP
Since we are given the loss percentage, we need to convert it into profit percentage.
Loss Percentage = (Loss / CP) * 100
Since Loss Percentage = 10%, we can write the equation as:
10 = (Loss / CP) * 100
Solving for Loss, we get:
Loss = (10/100) * CP
Loss = CP/10
Given that SP = 2/3 * CP, we can substitute these values into the profit equation:
Profit = (2/3 * CP) - CP
Profit = (2/3 - 1) * CP
Profit = (-1/3) * CP
The profit is negative because there is a loss.
Now, we need to find the profit percentage.
Profit Percentage = (Profit / CP) * 100
Substituting the value of profit, we get:
Profit Percentage = ((-1/3) * CP / CP) * 100
Profit Percentage = (-1/3) * 100
Profit Percentage = -33.33%
Since the profit percentage is negative, it means there is a loss of 33.33%.
However, the options provided in the question are in positive profit percentages. Therefore, we need to find the absolute value of the profit percentage.
Absolute Profit Percentage = |-33.33%|
Absolute Profit Percentage = 33.33%
The closest option to 33.33% is option 'D' which states 35%.
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Community Answer
What profit will be made by selling an article at a certain price, if ...
Let SP of the article be 3s.
Let CP of the article be c.
SP when a loss of 10% is incurred = (2/3) x 3s = 2s
Actual SP = 3s = 27/20c
Thus, profit percentage
Thus, profit percentage
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What profit will be made by selling an article at a certain price, if there is a loss of 10% incurred by selling it at 2/3of that price?a)10%b)15%c)25%d)35%Correct answer is option 'D'. Can you explain this answer?
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