Question

A book was sold for Rs.27.50 with a profit of 10%. If it were sold for Rs25.75, then what would have been the percentage of profit or loss?

(a) 4.5%
(b) 5.0%
(c) 3.0%
(d) 3.25%

Answer 1

Calculating the original cost price and the profit when sold for Rs.25.75, the percentage of profit is found to be 3%. Option C is correct.

Step-by-step explanation:

The original sale price of the book is Rs.27.50, which includes a profit of 10%. To find the cost price (the price before profit), we take the final sale price and divide it by 1.10 (since 10% profit means the sale price is 110% of the cost price).

Cost Price = Sale Price / 1.10

= Rs.27.50 / 1.10

= Rs.25

If the book is then sold for Rs.25.75, we must determine the new profit or loss:

Profit or Loss = New Sale Price - Cost Price

= Rs.25.75 - Rs.25

= Rs.0.75

To calculate the percentage, we use the profit or loss and divide it by the cost price, then multiply by 100:

Percentage of Profit or Loss = (Profit or Loss / Cost Price) * 100

= (Rs.0.75 / Rs.25) * 100

= 3%

Thus, the percentage of profit when the book is sold for Rs.25.75 is 3%, which is option (c).