Multiple choice

A shopkeeper sold dried apricots at the rate of Rs. 1210 per kg and bears a loss of 12%. Now, if he decides to sell them at the rate of Rs. 1331 per kg, what will be the result?

  1. 6.4 percent loss

  2. 3.2 percent gain

  3. 6.4 percent gain

  4. 3.2 percent loss
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A 12% loss on a selling price of 1210 means the cost price is 1210 / 0.88 = 1375. Selling at 1331 results in a loss of 1375 - 1331 = 44. The percentage loss is (44 / 1375) * 100 = 3.2%.

AI explanation

First, find the cost price using the formula cost price equals selling price times 100 divided by (100 minus loss percentage), giving 1210 times 100 divided by 88 for a cost price of Rs. 1375 per kg. Next, calculate the new profit or loss percentage using the formula (selling price minus cost price) divided by cost price times 100. Substituting the new selling price of Rs. 1331 gives a loss of 44 divided by 1375 times 100, resulting in a 3.2 percent loss.

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