Question

Anita bought a fridge and sold it at 37.5% loss. If she has sold the fridge at the price of Rs. 27500, then find out the amount she has spent on fridge.
1. Rs. 32500
2. Rs. 44000
3. Rs. 54360
4. Rs. 47500

Answer 1

Correct Answer - Option 2 : Rs. 44000

Given:

Selling price of fridge = Rs. 27500

Loss = 37.5%

Concept Used:

Cost price is always 100%.

Formula Used:

Loss% = (CP - SP)/CP × 100

where CP → Cost Price, SP → Selling Price

Calculations:

Selling price of fridge = Rs. 27500

Loss = 37.5%      [37.5% = 3/8]

⇒ (8 - 3)/8 units = Rs. 27500

⇒ 5/8 units = Rs. 27500

⇒ 1 unit = Rs. 27500 × (1/(5/8)) = Rs. 44000

⇒ Cost price of fridge = Rs. 44000

∴ The amount she has spent to buy fridge is Rs. 44000.