By selling 12 kg of potatoes for Rs. 63, a shopkeeper gains 5%. What does his gain or lose percent by selling 50 kg of the same potatoes for Rs. 247.50?

A. 1% profit

B. 1% loss

C. No profit no loss

D. 2.5% loss

Answer: Option B

Solution(By Examveda Team)

Let X be the Cost Price of the Potatoes per KG.
SP in first case Price of Potatoes = 63/12 = Rs. 5.25 per kg.
SP = X + 5% of X
5.25 = 1.05X
X = Rs. 5.
In second Case SP = 247.50/50 = 4.95.
Loss = 5 - 4.95 = 0.05.
%Loss = (0.05 * 100)/5 = 1% loss.