Multiple choice

A person sells 40 chairs for Rs 10,000 and gets a loss of 4%. If he had sold 30 chairs for Rs 10,000, what would be his profit or loss percent?

  1. 24%

  2. 28%

  3. 26%

  4. 22%
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

40 chairs for 10,000 at 4% loss means CP of 40 chairs = 10,000 / 0.96 = 10,416.67. CP of 1 chair = 260.42. Selling 30 chairs for 10,000 means SP of 1 chair = 333.33. Profit = 333.33 - 260.42 = 72.91. Profit % = (72.91 / 260.42) * 100 = 28%.

AI explanation

By selling 40 chairs for Rs. 10,000 at a 4% loss, the cost price of one chair is 10000 divided by 40 and then divided by 0.96, which equals Rs. 260.41. For 30 chairs, the total cost price is 30 times 260.41, or approximately Rs. 7,812.50. Selling these 30 chairs for Rs. 10,000 yields a profit of 10000 minus 7812.50, which is Rs. 2,187.50, resulting in a profit percentage of (2187.50 / 7812.50) times 100, equal to 28%.

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