Question

If 13% is lost by selling goods for Rs 1475, what would be the loss or gain if the goods are sold for Rs 1615?

Answer 1

Given:

Loss percent is 13%.

Selling price = 1475

To find:

The loss or gain if the goods are sold for Rs.1615?

Solution:

Let x be the cost price of goods.

Loss percent is 13% and selling price is 1475.

$1475=x-\dfrac{13}{100}x$

$1475=x-0.13x$

$1475=0.87x$

$\dfrac{1475}{0.87}=x$

$1695.4023=x$

$x\approx 1695.40$

The cost price of goods is 1695.40.

We need to find the loss or gain if the goods are sold for Rs.1615.

Cost price is greater than the selling price because 1695.40 > 1615. It means , it is a loss.

$Loss=CP-SP$

$Loss=1695.40-1615$

$Loss=80.40$

The loss percent is

$Loss\%=\dfrac{Loss}{C.P}\times 100$

$Loss\%=\dfrac{80.40}{1695.40}\times 100$

$Loss\%\approx 4.74\%$

Therefore, the loss is 80.40 and the loss percent is about 4.74%.