Question : If a wholesaler sells a tin of coffee at INR 528, he bears a loss of 12%. Now if he decides to sell it at INR 636, what will be the profit (in %)?
Option 1: 7
Option 2: 5
Option 3: 6
Option 4: 4
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Correct Answer: 6
Solution : If the selling price = INR 528, then loss = 12% of cost price Selling price = Cost price – Loss ⇒ INR 528 = cost price – 12% of cost price ⇒ INR 528 = 88% of cost price ⇒ The cost price = $\frac{528}{0.88}$ = INR 600 Again, the selling price = cost price + profit When selling price = INR 636, Then, profit = 636 – 600 = 36 Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100$ = $\frac{(636 – 600)}{600} \times 100$ = $\frac{36}{600} \times 100$ = 6% Hence, the correct answer is 6.
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