A loss of 12.5% is incurred when an article is sold for ₹630. What is the profit or loss percentage if the article is sold for ₹840?

Explanation

Given: A loss of 12.5% is incurred when an article is sold for ₹630. Concept used: Selling price = Cost price - Cost price × loss% Profit% = (Profit/Cost price) × 100 Calculation: Let the cost price of the article be 100x Now, 100x - 100x × 12.5% = 630 ⇒ 87.5x = 630 ⇒ x = 630/87.5 ⇒ x = 7.2 ⇒ 100x = 720 So, cost price = Rs. 720 Now, Profit = 840 - 720 ⇒ 120 Profit% = (120/720) × 100 ⇒ 100/6 = 16 23 % ​ ∴ The profit percentage if the article is sold for ₹840 is 16 23 %. ​