Question:
Tick (✓) the correct answer:
By selling a radio for Rs 950, a man loses 5%. What per cent shall he gain by selling it for Rs 1040?
(a) 4%
(b) 4.5%
(c) 5%
(d) 9%
Solution:
(a) 4%
SP of the radio $=$ Rs 950
Loss $=5 \%$
$\mathrm{CP}=\left\{\frac{100}{(100-\text { loss })} \times \mathrm{SP}\right\}$
$=$ Rs $\left\{\frac{100}{(100-5)} \times 950\right\}$
$=$ Rs $\left(\frac{100}{95} \times 950\right)$
$=$ Rs 1000
Now, gain $=\mathrm{Rs}(1040-1000)$
= Rs 40
$\therefore$ Gain percentage $=\left(\frac{\text { gain }}{\mathrm{CP}} \times 100\right) \%$
$=\left(\frac{40}{1000} \times 100\right) \%$
$=4 \%$
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