Mohit purchased an article and sold it at a profit of 14%. If he had sold it for Rs. 121 less, then there would have been a loss of 8%.Then find the profit or loss percentage if the same article was sold at Rs. 536.25?
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Loss, 2.5%
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Profit, 2.5%
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Profit, 5%
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Loss, 5%
A
Correct answer
Explanation
Let CP be the cost price. SP at 14% profit = 1.14 × CP. SP at 8% loss = 0.92 × CP. Difference = 1.14CP - 0.92CP = 0.22CP = Rs. 121. Therefore, CP = 121/0.22 = Rs. 550. When SP = Rs. 536.25: Loss = 550 - 536.25 = Rs. 13.75. Loss percentage = 13.75/550 × 100 = 2.5%. This is a clear profit-loss problem requiring identification of CP first.