By selling an item for 1 035 there is a gain of 15 If the item is sold for Rs922 50 then what is the...........

Quantitative Aptitude (MTS) Profit and loss

By selling an item for ?1,035, there is a gain of 15%. If the item is sold for Rs922.50, then what is the gain/loss percentage?

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SSC MTS 14th October 2021 Shift-2

Loss 12.5%

Gain 12.5%

Gain 2.5%

Loss 2.5%

- Initial selling price of the item is ?1,035 with a 15% gain.

- Let the cost price be "C."

- Selling price = Cost price + Gain.

- ?1,035 = C + 0.15C = 1.15C.

- Thus, C = ?1,035 / 1.15 = ?900.

- New selling price = ?922.50.

- Gain/Loss = Selling price - Cost price = ?922.50 - ?900.

- Gain/Loss = ?22.50.

- Gain/Loss percentage = (Gain/Loss / Cost price) * 100 = (?22.50 / ?900) * 100 = 2.5% Gain.

Correct Answer: Option 3 - Gain 2.5%

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