A music system when sold for rs. 4500 gives a loss of 16.66% to the merchant who sells it. calculate his loss or gain percent, if he sells it for rs. 5703.75.
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Given, SP 1 of Music system = 4500
Loss % = 16.66% = 1/6 %
SP 2 = 5703.75
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CP of the Music system = 100/(100-Loss%) x SP1
= 100/(100-16.66) x 4500
= 100/83.34 x 4500
= 5400 (approx)
Hence CP is less than SP2 so profit.
Profit = SP2 - CP
= 5703.75 - 5400
= 303.75
Profit % = Profit/CP x 100
= 303.75/5400 x 100
= 30375/5400
= 5.625
Hence Profit% is 5.625%.
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