A property dealer sells a house for Rs. 630000 and in the bargain makes a profit of 5% . Had he sold it for Rs. 500000, then what percentage of loss or gain he would have made?

15% loss
15% gain
162/3% gain
162/3% loss

Correct Answer: 162/3% loss

Explanation:

SP = Rs. 63000, Profit = 5%
∴ CP =Rs. (100/105) x 63000 = Rs. 600000
If SP would have been Rs. 500000, then there would have been a loss of 16²/₃% .

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