Question : A man sells his bike for Rs. 1,32,000 earning a profit of 10%. If he had sold it for Rs. 1,26,000, then what is his profit or loss percent?
Option 1: 10% profit
Option 2: 5% loss
Option 3: 10% loss
Option 4: 5% profit
Correct Answer: 5% profit
Solution :
Given: Selling price including 10% profit:
Let the cost price be CP.
$\frac{110}{100} \times CP=132000$
Cost price = 120000
If it is sold at Rs 126000
Profit = 126000 – 120000 = 6000
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100$
= $\frac{6000}{120000}\times 100$
= 5%
Hence, the correct answer is 5% profit.
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