The selling price of 14 articles is equal to the cost price of 10 articles. Find the profit or loss percentage.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 28.57% loss
Profit or loss per cent is always taken on the cost price. Comparing the same number of articles (14) gives the cost and the selling price directly.
Let the cost price of one article be Rs 1
Cost price of 14 articles \(=\) Rs 14
Selling price of 14 articles \(=\) cost price of 10 articles \(=\) Rs 10
Loss \(=14-10=\) Rs 4
Loss % \(\displaystyle =\frac{4}{14}\times100=28\frac{4}{7}\%=28.57\%\)
The selling price is below the cost price, so it is a loss of 28.57%.