Question : A man lost 15% by selling a mobile for Rs. 4,675. What will be his gain percentage by selling it for Rs. 6,050?
Option 1: 10.5%
Option 2: 9.5%
Option 3: 9%
Option 4: 10%
Correct Answer: 10%
Solution :
The selling price of the mobile = Rs. 4,675
Loss percentage = 15%
New selling price = Rs. 6,050
According to the question,
85% of CP = 4,675
⇒ CP = $\frac{4675}{0.85}$
⇒ CP = Rs. 5,500
If he sold it for Rs. 6,050, then,
Profit% = $\frac{(\text{SP}-\text{CP})}{\text{CP}}\times{100}$
Profit% = $(6,050 - 5,500)\times{\frac{100}{5,500}}$
= $550 \times{\frac{100}{5500}}$
= 10%
The required Profit% = 10%.
Hence, the correct answer is 10%.
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