Question
If a shopkeeper bears 25% loss, then which of the following statements is/are correct?
Statement A: The cost price of 15 articles is equal to the selling price of 20 articles.
Statement B: The cost price of 12 articles is equal to the selling price of 17 articles.
The correct answer is
Only Statement A is correct.
If there is a 25% loss, then Selling Price (SP) = 75% of Cost Price (CP), or SP = (3/4)CP.
Let the CP of 1 article be ₹1. Then CP of 15 articles = ₹15.
SP of 20 articles = 20 × SP = 20 × (3/4) = ₹15. Hence, Statement A is correct.
For Statement B: CP of 12 articles = ₹12. SP of 17 articles = 17 × (3/4) = ₹12.75 ≠ ₹12
So, Statement B is incorrect.
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Important Questions from Profit and Loss
- Veer bought some sharpeners at the rate of ₹180/dozen. He sold them for ₹23 each. His profit percentage is ____ % (rounded off to two decimal places).
- A shopkeeper lists the price of a fan at 60% above its cost price and offers a 15% discount on its list price. If he earns a profit of ₹117, then what is the list price (in ₹) of the fan?
- The marked price of an article is ₹800. It is sold at two successive discounts of 24% and 15%, respectively. Find the selling price of the article.
- A discount of 13% on the marked price of an article is allowed and then the article is sold for ₹348. The marked price of the article is:
- A trader claims to sell grains at a profit of 29%, but also dishonestly uses a weight which is 13% less than what is mentioned on it. Find the total percentage of profit earned by the trader. (Round off the answer to the nearest whole number.)
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