A piece of furniture sold for Rs 1,25,280 gives the seller a loss of 13%. Find his gain or loss percentage if he sells it for Rs 1,62,000.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 12.5%
The first sale fixes the cost price: at a 13% loss the selling price is 87% of the cost. The second sale is then compared with that cost.
\(\displaystyle \text{Cost price}=125280\times\frac{100}{87}=\) Rs 1,44,000
Rs 1,62,000 is more than the cost, so it is a gain of \(162000-144000=\) Rs 18,000
Gain % \(\displaystyle =\frac{18000}{144000}\times100=12.5\%\)
He gains 12.5%.