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?
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% .
