On selling an article for ₹2400 a trader earns 25% profit. If he had sold it for ₹2160, then what was his profit or loss percentage?
Answer & explanation
Correct answer: option 3
Selling price of the arrticle = 2400
Profit = 25%
125% of CP = 2400
100% of the CP = 1920
New selling price given = 2160
Profit % = (2160 - 1920) × \(\frac{100}{1920}\) = $12\frac{1}{2}$% Profit