Question

The selling prices of a sofa set is RS 7000.00 if the loss percentage is 12.5% the cost prices would be = a) RS 9000 b)RS 8500 c) Rs 8000 d)Rs 7500

Answer 1

Below is the list of some basic formulas used in solving questions on profit and loss:

Gain % = (Gain / CP) * 100

Loss % = (Loss / CP) * 100

SP = [(100 + Gain%) / 100] * CP

SP = [(100 – Loss %) / 100]*CP

The above two formulas can be stated as,

If an article is sold at a gain of 10%, then SP = 110% of CP.

If an article is sold at a loss of 10%, then SP = 90% of CP.

CP = [100 / (100 + Gain%)] * SP

CP = [100 / (100 – Loss%)] * SP

Answer 2

125/1000×7000
=125×7
=875 RS

7000+875
=7875