Question : Ritika bought each set of 10 shirts at Rs 8,000 and sold them at Rs 9,000 for each set of 12 shirts. Find her profit or loss percentage.
Option 1: 7% profit
Option 2: 7.25% profit
Option 3: 8% loss
Option 4: 6.25% loss
Correct Answer: 6.25% loss
Solution :
Cost price of 10 shirts = Rs. 8000
Cost price of 1 shirt $= \frac{8000}{10}=800$
Selling price of 12 shirts = Rs. 9000
Selling price of 1 shirt $=\frac{9000}{12}=750$
Loss = cost price – selling price = 800 – 750 = 50
Loss percentage = $\frac{\text{Loss}}{\text{Cost price}}\times 100$
= $\frac{50}{800}\times 100$
= 6.25%
Hence, the correct answer is a 6.25% loss.
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