Multiple choice

By selling a tape recorder for Rs. 1,040, a man gains 4%. If he had sold it for Rs. 950, then his loss percentage would have been

  1. 5%

  2. 4%

  3. 4.5%

  4. 9%
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The gain of 4% on Rs. 1,040 means the cost price is 1,040 / 1.04 = 1,000. Selling at Rs. 950 results in a loss of 50, which is 5% of the cost price of 1,000.

AI explanation

Using the formula for cost price, CP equals Selling Price multiplied by 100 divided by 100 plus gain percent. Substituting the values, CP equals 1040 multiplied by 100 divided by 104, giving a cost price of Rs. 1000. When sold for Rs. 950, the loss is 1000 minus 950, which is Rs. 50. Applying the loss percentage formula, Loss Percentage equals 50 divided by 1000 multiplied by 100, resulting in 5%.

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