Question : The selling price of 28 items is equal to the cost price of 17 items. What is the percentage of profit or loss?
Option 1: $39 \frac{2}{7} \%$ loss
Option 2: $39 \frac{2}{7} \%$ profit
Option 3: $33 \frac{2}{7} \%$ profit
Option 4: $33 \frac{2}{7} \%$ loss
Correct Answer: $39 \frac{2}{7} \%$ loss
Solution :
Let the cost price of each item be Re. 1
⇒ cost price of 28 items = Rs. 28
Also, Selling price of 28 items = Rs. 17
⇒ Loss = 28 - 17 = Rs. 11
⇒ Loss % = $\frac{11}{28} × 100$ = $39\frac{2}{7}\%$
Hence, the correct answer is $39\frac{2}{7}\%$ loss.
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