Question

A shopkeeper had purchased 400 products for $40 each. The goods did not sell due to quality issues.
He sold them to a scrap dealer for $6500. What is the profit/loss percentage that he made in the
transaction?
options-
52.75%loss
60%profit
59.37%loss
59.37%profit
​

Answer 1

Answer:

59.37% loss

Step-by-step explanation:

Cost price = CP = 400 × 40 = $16000

Selling price = SP = $6500

CP > SP => It's a loss.

Loss = CP - SP = 16000 - 6500 = 9500

Loss% = (Loss / CP) × 100

= 9500/16000 × 100

= 9500/160

= 59.37% loss

Hope it helps you:)