Question

If a radio is sold at Rs.$972$, then profit is $8%$. If it is sold at Rs. $872$, then there is a loss of
A.Rs. $28$
B.Rs. $25$
C.Rs. $20$
D.Rs. $15$

Answer 1

Hint: First we are given the profit, so if the selling price is Rs. $108$ then cost price will be Rs. $100$. After that, find it for a selling price of Rs. $1$ and then find it for selling price of Rs. $972$. After that, you will get the loss.

Complete step-by-step answer:
Given profit is $8%$.
So, if the selling price is Rs. $108$ then the cost price will be Rs. $100$.
Now, if selling price is Rs. $1$ then cost price will be$=$Rs. $\dfrac{100}{108}$
For, the price is Rs. $972$ then cost price will be$=$Rs. $972\times \dfrac{100}{108}$
Now simplifying we get,
The price is Rs. $972$ then cost price will be$=$Rs. $9\times 100$
Again, simplifying we get,
The price is Rs. $972$ then cost price will be$=$Rs. $900$
Hence, if the radio is sold for Rs. $872$, then the loss$=900-872$
Simplifying we get,
If the radio is sold for Rs. $872$, then the loss$=$Rs. $28$.
Therefore, if a radio is sold at Rs.$972$, then profit is $8%$. If it is sold at Rs. $872$, then there is a loss of Rs. $28$.
Hence, the correct answer is option (A).

Additional information:
Profit and loss percentage are used to refer to the amount of profit or loss that has been incurred in terms of percentage. It should be noted that the percentage is one of the methods for comparing two quantities. Daily we come across a variety of situations where we calculate or compare things in “per cent”. Most common ones are the situations related to buying and selling of items. Before we go through profit and loss per cent, we need to make ourselves familiar with a few terminologies that are generally used in sales/purchasing of goods.

Note: Selling price is the price at which we sell an item; in short, it is written as SP. During the purchase and sale of an item, depending upon the CP or SP, it can be either profit or loss for the seller.