A music system when sold for Rs.4500 gives a loss of 16.66% to the merchant who sells it. Calculate his loss or gain per cent, if he sells it for Rs.5703.75.
Question
Solution 1
Step 1: First, we need to find the cost price of the music system. We know that when the music system is sold for Rs.4500, the merchant incurs a loss of 16.66%. This means that Rs.4500 is 83.34% (100% - 16.66%) of the cost price.
So, we can set up the equation: 4500 = 83.34/100 * Cost price
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