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If a car is sold for Rs..50000 the profit is 17 percent, what would be profit percentage if sold for Rs. 47000?

Correct answer: B. 9.98%

  • A. 14.85%
  • B. 9.98%
  • C. 16.20%
  • D. 14.50%

Explanation

A selling price of Rs. 50000 at 17% profit means the cost price is Rs. 50000 / 1.17 = Rs. 42735.04 approximately. At a selling price of Rs. 47000, the profit is Rs. 47000 - Rs. 42735.04 = Rs. 4264.96, so the profit percentage is (Rs. 4264.96 / Rs. 42735.04) x 100 = 9.98% approximately. The likely mistake is 14.50%, which applies the percentage change to the selling price rather than calculating profit as a percentage of cost price.

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Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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