Question

Pen is sold for rs.30 with a profit of 5%. Had it been sold for Rs. 29, what would be the percentage of profit or loss

Answer 1

The main thing we need to find here is the Cost Price. Let it be 'x'

So, we can safely say that 30 = x + 5% of x
which means 30 = 1.05x. Upon solving, this gives us x = 28.57.

So we got the Cost Price = Rs. 28.57

As per the question, if the pen is sold for Rs.29, we can clearly see that there would be a profit. Let us now find the profit percentage.

Percentage Profit = [(Sale Price - Cost Price) ÷ Cost Price ] × 100
This gives us [(29 - 28.57)/28.57]  x 100
= (0.43 / 28.57) x 100
= 1.5%

So when sold at Rs. 29, the pen will fetch a profit margin of 1.5%.