By selling an article for ₹1,170. Elisa suffers as much loss as she would have gained by selling it at a profit of 22%. If she sells it for ₹1,450, then her profit/loss per cent (correct up to one decimal place) is:
Answer & explanation
Correct answer: option 2
Selling price = 1270
According to the question,
Profit% = Loss%
Profit = 22%
Then, loss = 22%
Now, 78% of cost price = 1170
100% of the cost price = 1170 × \(\frac{100}{78}\) = 1500
Selling price given = 1450
Loss = 1500 - 1450 = 50
Loss% = 50 × \(\frac{100}{1500}\) = 3.33%