What profit/loss percent did Ravi earn if he purchased an item of Rs 5,600 and sold it at three-fourth of its cost price ?
What profit/loss percent did Ravi earn if he purchased an item of Rs 5,600 and sold it at three-fourth of its cost price ?
ALoss of 20 per cent
BGain of 25 per cent
CNeither gain nor loss
DNone of these
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Correct answer is: None of these
Explanation:
\(\text{S.P = } \Large 5600 \times \frac{3}{4} \text{ = Rs.4200}\)
\(\text{Loss = 5600 - 4200 = Rs.1400}\)
\(\text{Loss percentage = } \Large \frac{Loss}{Cost\ price} \times 100\)
\(\Large \frac{1400}{5600} \times 100 \text{ = 25%}\)
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