SOLUTION: By selling an article for 72 rupees a man loses 1/7 of his outlay.if it is sold for 94.5rupees, what is gain or lose percent

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: By selling an article for 72 rupees a man loses 1/7 of his outlay.if it is sold for 94.5rupees, what is gain or lose percent      Log On


   

Question 992398: By selling an article for 72 rupees a man loses 1/7 of his outlay.if it is sold for 94.5rupees, what is gain or lose percent
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +x+ = his outlay
He sold at a loss, so
+%28+x+-+72+%29+%2F+x+=+1%2F7+
+7%2A%28+x+-+72+%29+=+x+
+7x+-+504+=+x+
+6x+=+504+
+x+=+84+
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So I can use the same formula:
Let +y+ = % LOSS ( gain if it's negative )
If sold for +94.5+ rupees
+%28+84+-+94.5+%29+%2F+84+=+y+
+84y+=+-10.5+
+y+=+-.125+
+-.125%2A100+=+-12.5+
There is a 12.5% gain