Multiple choice

A trader sells an article at a loss of 8%, but when he increases the selling price of the article by Rs.164 he earns a profit of 2.25% on the cost price. If he sells the same article for Rs.1760, what is his profit percentage?

  1. 12%

  2. 10%

  3. 14%

  4. 18%

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

At 8% loss: SP = 0.92CP. When SP increases by 164, profit = 2.25%, so 0.92CP + 164 = 1.0225CP, which gives CP = 1600. If SP = 1760, profit = 1760 - 1600 = 160, so profit% = 160/1600 × 100 = 10%.

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