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    Question

    An item was sold at Rs. 5000 making a 10% gain. If it had

    been sold at Rs. 4200, determine the approximate profit or loss percentage.
    A 50% loss Correct Answer Incorrect Answer
    B 32% profit Correct Answer Incorrect Answer
    C 70% profit Correct Answer Incorrect Answer
    D 8% loss Correct Answer Incorrect Answer

    Solution

    ATQ,

    Cost price = 5000 / 1.1 = Rs. 4545.45

    Loss = 4545.45 – 4200 = Rs. 345.45

    Loss percentage = (345.45 / 4545.45) × 100 ≈ 7.6% loss

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