Word Problem10: A horse is sold for Rs 1230 at a loss of 18%. What would have been gained or lost percent if it had been sold for Rs 1600 ?
a. 6-2/3% gain b. 7% loss c. 8% gain d. 9-1/2% loss
Here we suppose that cost price
Now first sale price is Rs 1230 i-e
Putting values of Loss, CP and SP1
Simplifying gives us;
So cost price is Rs 1500
Now had it been sold for Rs 1600, then we see it would have gain of Rs 100 !
i-e Profit = P = 100
Now to find what percentage it (the profit of 100 rupees) makes of cost price, we suppose that it makes ‘x’ [ercent of CP !
So the option ‘a’ is the answer