Question
Download Solution PDFA Kindle is sold for $1458 at a profit of 35%. What would have been the actual profit or loss on it, if it had been sold for $810?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Selling price (SP) = $1458
Profit = 35%
New selling price (SP) = $810
Formula Used:
Cost Price (CP) = SP × 100 / (100 + Profit%)
Profit or Loss% = [(SP - CP) × 100] / CP
Calculation:
Step 1: Calculate the Cost Price (CP) using the original selling price:
CP = 1458 × 100 / (100 + 35)
⇒ CP = 1458 × 100 / 135
⇒ CP = 1080
Step 2: Calculate Profit or Loss when the Kindle is sold for $810:
Profit or Loss = SP - CP
⇒ Profit or Loss = 810 - 1080
⇒ Profit or Loss = -270 (Loss)
Loss% = [(Loss) × 100] / CP
⇒ Loss% = [(-270) × 100] / 1080
⇒ Loss% = -25%
The actual loss on selling the Kindle for $810 is 25%, so the correct option is 4.
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