Arun bought an iron box for rupees 960 and sold it to Varun and made a profit of 5%. If Bhavan bought it from Varun for rupees 957.60, then find the loss percentage in the deal.
Percentage and its applications
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Refer to the attachmenta
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vivekrahul:
i got it
can u explain me what u have written below Varun's Iron box
Sure
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44
The loss percentage in the deal is 5%.
Cost Price of the box for Arun = Rs 960.
He sold it at a profit of 5%.
As we know, Selling Price (S.P.) is given as:
S.P. = (100 + Profit%) % of C.P
= (100+5)% of Rs 960
= 105% of Rs 960
= (105/100) × Rs 960
= 1008
So, Arun sold the box to Varun at Rs 1008.
Cost Price of the bok for Varun = Rs 1008
Selling Price of the book = Rs 957.60 (As Bhavan bought it from Varun at this price)
Since, CP>SP, a loss is incured for Varun.
Loss value = C.P - S.P = Rs (1008 - 957.60) = Rs 50.4
Loss% = [(Loss value/C.P.) × 100]%
= [50.4/1008)× 100]%
= 5%
Thus loss% = 5%.
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