Question

An article was sold for rupees 5000 at a profit of 12 %. Find the cost price of the article. If the same article sold for rupees 4750. Find the gain or loss percent

Answer 1

Answer:

Cost Price of article = Rs 4464

Gain% = 6.4%

Step-by-step explanation:

Let the cost price of article be Rs. x .

We are given that an article was sold for Rs 5000 at a profit of 12 % .

As we know that profit or loss is always applied on cost price so;

             Cost Price + 12% of Cost Price = Selling Price

                 x + 0.12 * x = 5000

                  1.12 *  x = 5000

                    x = 5000/1.12 = Rs 4464.28 ≈ Rs 4464.

So, the cost price of article is Rs 4464.

Now, If the same article sold for Rs 4750 we have to find gain or loss %

As we can clearly see that now also the selling price of article is more than the cost price so there is a gain in selling of article.

      Gain % = $\frac{Gain}{Cost Price} *100$

                   = $\frac{4750-4464}{4464} *100$ = 6.4068% ≈ 6%

Therefore, gain% = 6.4% .