Question

A shopkeeper will get a profit of 10% if he will sell an article for rs 440. find the loss% if he sold that article for rs 370.

Answer 1

7.5 % is the correct answer

Answer 2

Answer:

The shopkeeper will suffer a loss of 7.5% if he sold that article for Rs. 370.

Step-by-step explanation:

We are given,

Profit percent = 10%

Selling price = Rs. 440

Cost Price = $\frac{100}{100+profit \%} \times SP$

Cost Price = $\frac{100}{100+10} \times 440$

Cost Price = $\frac{100}{110} \times 440$

Cost Price = $400$

Hence, Cost price is Rs. 400.

We have to find the loss% when he sold the same article for Rs.370.

Selling Price = Rs. 370

Cost price = Rs. 400

Loss = CP - SP

       = 400 - 370

       = 30

He will have a loss of Rs. 30.

Loss% = $\frac{\text{loss}}{\text{CP}} \times 100$

Loss% = $\frac{\text{30}}{\text{400}} \times 100$

Loss% = $7.5\%$

Thus, the shopkeeper will suffer a loss of 7.5% if he sold that article for Rs. 370.