By Mansi Yadav

Verified by Ajay Kumar

A shopkeeper bought 5 watches for ₹6000. He sold each at ₹1100. Find the overall profit or loss percentage.

  1. 8% loss

  2. 8.33% loss

  3. 7.5% loss

  4. 6.67% loss

Answer: B

Solution

Solution: Total cost price = ₹6000. Total selling price \(=5\times1100\) = ₹5500. Loss \(=6000-5500\) = ₹500. Loss percentage \(=\frac{500}{6000}\times100=8.33\%\) approximately. Trick: Calculate the total cost price and total selling price before finding the loss percentage.

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