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A shopkeeper sold a washing machine at half the list price and thus lost 2.5%. If he had sold it on the list price, his gain % would have been?1. 80%2. 75%3. 95%4. 90% |
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Answer» Correct Answer - Option 3 : 95% Given: Loss% = 2.5% SP = 1/2 × (MP) Concept: Consider C.P to be 100, then proceed to calculate the answer. Formula used: Profit = Selling Price - Cost Price Profit% = (Profit/C.P) × 100 Calculation: Let, the C.P = 100x ∵ There is a loss of 2.5%, ∴ SP = 100x - 2.5x = 97.5x ∵ SP = (1/2) × MP ⇒ MP = 2 × SP ⇒ MP = 2 × 97.5x ⇒ MP = 195x ∴ If the Article is sold at MP Profit = 195x - 100x = 95x ∴ Profit% = (Profit/C.P) × 100 = (95x/100x) × 100 = 95% |
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