Question : A profit of 12% is made when a mobile phone is sold at Rs. P and there is a 4% loss when the phone is sold at Rs. Q. Then Q : P is:
Option 1: 1 : 1
Option 2: 4 : 5
Option 3: 6 : 7
Option 4: 3 : 1
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Correct Answer: 6 : 7
Solution :
Let the cost price of the mobile phone as $x$.
Given that a profit of 12% is made when the mobile phone is sold at Rs. P.
$P = x + 0.12x = 1.12x$
And there is a 4% loss when the phone is sold at Rs. Q.
$Q = x - 0.04x = 0.96x$
$\frac{Q}{P} = \frac{0.96x}{1.12x} = \frac{0.96}{1.12} = \frac{24}{28} = \frac{6}{7}$
Hence, the correct answer is 6 : 7.
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