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Posts: 12
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
66% (02:47) correct
34%
(02:26)
wrong
based on 131
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By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage?
A. 30% Profit
B. 20% Loss
C. 37 1/7% Profit
D. 33 1/3% Loss
E. 25% Profit
A. 30% Profit
B. 20% Loss
C. 37 1/7% Profit
D. 33 1/3% Loss
E. 25% Profit
Posts: 12
Vallabhm001
Actual S.P. = 100
\(\frac{7}{10}\) S.P. = 70
C.P. = 70*\(\frac{5}{6}\)
-------------------------------------------------------------
Product is sold at 20% less than actual selling price.
Therefore, S.P. = 80
Profit F.O.M. = \(\frac{S.P.}{C.P.}\) = \(\frac{80*6}{70*5}\) = \(\frac{48}{35}\)
Profit = \(\frac{48-35}{35}\) = \(\frac{13}{35}\)*100 = 37.14%
Posts: 4,849
SOLUTION:
Let Original SP = 1000
He is selling at 700/-
Profit =20% which implies
CP*1.2 =700
=>CP=700/1.2 = 583.33 [Final CP]
It is sold at 20% less than the actual SP
=>Sold at= (80/100)*1000
=800/- [Final SP]
Profit% =Profit/CP*100
= (SP-CP)/CP*100
=800-583.33 / 583.33 *100
=37.14 OPTION (C)
Hope this helps
Devmitra Sen(Math)
Let Original SP = 1000
He is selling at 700/-
Profit =20% which implies
CP*1.2 =700
=>CP=700/1.2 = 583.33 [Final CP]
It is sold at 20% less than the actual SP
=>Sold at= (80/100)*1000
=800/- [Final SP]
Profit% =Profit/CP*100
= (SP-CP)/CP*100
=800-583.33 / 583.33 *100
=37.14 OPTION (C)
Hope this helps
Devmitra Sen(Math)
Posts: 1,052
Explanation:
Let, S.P = 100, 1/7th of S.P = 70
Profit = 20%
C.Px1.2 = 70
C.P=70/1.2 = 58.33
if sold at 20% less, S.P will be 80.
Profit = (80-58.33 / 58.33) x 100
=37.13
IMO-C
Let, S.P = 100, 1/7th of S.P = 70
Profit = 20%
C.Px1.2 = 70
C.P=70/1.2 = 58.33
if sold at 20% less, S.P will be 80.
Profit = (80-58.33 / 58.33) x 100
=37.13
IMO-C
By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage?
let the SP be 100
The new SP = 100*7/10 = 70
profit= 20%
CP(1+PROFIT%) = SP
CP(1.2) = 70
CP = 58
If he sells the product at 20% less than the actual selling price --> It means he will be selling it at 80% of SP (i.e. 100)
if he makes a profit selling at 70% SP he will definitely make a profit selling at 80%
A. 30% Profit
B. 20% Loss ---> Eliminated
C. 37 1/7% Profit
D. 33 1/3% Loss ---> Eliminated
E. 25% Profit
SP =80
CP = 58
Profit = 80-53 =22
22/53*100 =37% hence (c)
let the SP be 100
The new SP = 100*7/10 = 70
profit= 20%
CP(1+PROFIT%) = SP
CP(1.2) = 70
CP = 58
If he sells the product at 20% less than the actual selling price --> It means he will be selling it at 80% of SP (i.e. 100)
if he makes a profit selling at 70% SP he will definitely make a profit selling at 80%
A. 30% Profit
B. 20% Loss ---> Eliminated
C. 37 1/7% Profit
D. 33 1/3% Loss ---> Eliminated
E. 25% Profit
SP =80
CP = 58
Profit = 80-53 =22
22/53*100 =37% hence (c)
if sold at 0.7 SP --> then CP x 1.2 [ if sold at 70% of SP then 20% profit on CP]
if sold at 0.8 SP --> then (CP x 1.2) x 0.8 / 0.7 [ simple unitary method]
therefore profit = CP x 0.96/0.7 or 9.6/7
= CP x 1.37_ _ ( by this point answer is obvious).
if sold at 0.8 SP --> then (CP x 1.2) x 0.8 / 0.7 [ simple unitary method]
therefore profit = CP x 0.96/0.7 or 9.6/7
= CP x 1.37_ _ ( by this point answer is obvious).
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