If 13% is lost by selling goods for Rs,1475 what would be the loss or gain if the goods are sold for Rs1615

Question

If 13% is lost by selling goods for Rs 1475 what would be loss or gain if goods are sold for Rs 1615

Answer 1

If the loss is 13% and the cost price is C the loss is given by -(S-C)/C where S is the selling price. The leading minus means loss instead of gain. (C-S)/C=1-1475/C=0.13, 0.87=1475/C so C=1475/0.87=Rs1695.40.

Now. S=1615, loss/gain=(S-C)/C=(1615-1695.40)/1695.40=-0.0474=loss of 4.74%.