Question : A shopkeeper sells dried apricots at the rate of Rs. 1210 per kg and bears a loss of 12%. Now if he decides to sell it at Rs. 1331 per kg, what will be the result?
Option 1: 6.4 percent loss
Option 2: 3.2 percent gain
Option 3: 6.4 percent gain
Option 4: 3.2 percent loss
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Correct Answer: 3.2 percent loss
Solution :
Given, A shopkeeper sells dried apricots at the rate of Rs 1210 per kg. and bears a loss of 12%.
Cost price. of 1 kg apricots = $\frac{100}{88}\times 1210=\text{Rs.}\ 1375$
When the selling price is Rs. 1331,
$\therefore$ Loss % = $\frac{1375-1331}{1375}\times 100=3.2\%$
Hence, the correct answer is a 3.2 percent loss.
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