Question

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

Answer 1

Refer to the attachmenta

Answer 2

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%.