Jahanvi bought a toy for ₹374, decorated it at a cost of ₹11, and sold the toy for ₹140. Find the loss or gain percentage.
\(\frac{700}{11}\)% loss
Any expense on the article before sale is added to its cost, so the effective cost price = purchase price + decoration cost. Loss% = \(\frac{\text{CP} - \text{SP}}{\text{CP}} \times 100\).
Cost price = 374 + 11 = ₹385. The selling price ₹140 is less than the cost price, so there is a loss of 385 – 140 = ₹245.
Loss% = \(\frac{245}{385} \times 100 = \frac{7}{11} \times 100 = \frac{700}{11}\)% (about 63.64%).
Check: \(\frac{700}{11}\)% of 385 = \(\frac{700}{11} \times \frac{385}{100} = 7 \times 35 = 245\), and 385 – 245 = 140, the selling price.
Hence, \(\frac{700}{11}\)% loss.
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