Question : By selling 12 kg of potatoes for Rs. 63, a shopkeeper gains 5%. What does he gain or lose in percentage by selling 50 kg of the same potatoes for Rs. 247.50?
Option 1: 1% loss
Option 2: No profit, no loss
Option 3: 2.5% loss
Option 4: 1% profit
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Correct Answer: 1% loss
Solution :
Let $x$ be the cost price of the potatoes per kg.
The selling price in the first case of potatoes = $\frac{63}{12}$= Rs. 5.25 per kg
SP = $x$ + 5% of $x$, where SP = selling price
⇒ 5.25 = 1.05$x$
⇒ $x$ = Rs. 5
In second case SP = $\frac{247.50}{50}$ = Rs. 4.95 per kg
Loss = 5 – 4.95 = Rs. 0.05
So, the loss percentage = $\frac{0.05}{5}×100$ = 1% loss
Hence, the correct answer is 1% loss.
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