Question

A table is sold for Rs. 5060 at a gain of 10%. What would have been the gain or loss percent it had been sold for Rs. 4370?

• A. 5% gain
• B. 5% loss
• C. 2% loss
• D. 3% gain

Answer 1

Answer:

B. 5% loss

Costprice = (5060 x 100)/110 = 4600

Selling price = 4370 loss

= 4600 - 4370

= 230

Loss percentage = loss/Costprice x 100

= 230/4600 x 100 = 5%