A Box was sold for Rs. 55 with a profit of 10%. If it were sold for Rs. 51.5, then what would have been the percentage of profit or loss?

2%

5%

3%

7%

Solution: S.P = Rs. 55, Profit =10%. So, C.P =Rs.(100/110 * 55) = Rs. 50. when S.P = Rs. 51.5, profit = Rs. (51.5 - 50) = Rs. 1.5. Profit% = (1.5/50 *100)% = 3%.

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