Question
Download Solution PDFA mobile is sold for $15825 at a loss of 25% What would have been the actual profit or loss percent on it, if it had been sold for $25320?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A mobile is sold for $15,825 at a loss of 25%.
New selling price = $25,320
Formula used:
Cost Price (CP) = Selling Price (SP) / (1 - Loss%)
Profit or Loss % = [(New SP - CP) / CP] × 100
Calculation:
CP = 15825 / (1 - 0.25)
⇒ CP = 15825 / 0.75 = 21100
Profit or Loss % = [(25320 - 21100) / 21100] × 100
⇒ Profit or Loss % = [4220 / 21100] × 100
⇒ Profit or Loss % = 0.2 × 100
⇒ Profit or Loss % = 20% profit
∴ The correct answer is option (3).
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