Question : By selling an article for INR 2,200, a profit of 10 % is earned. If the same article is sold for INR 2,600, then what will be the gain percentage?
Option 1: 20%
Option 2: 15%
Option 3: 37%
Option 4: 30%
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Correct Answer: 30%
Solution :
Given: selling price = INR 2200
Let the cost price of the article be $x$.
According to the question,
$x × \frac{110}{100} = 2200$
⇒ $x = 2000$
⇒ Cost price = INR 2000
Now, New selling price = INR 2600
New profit = 2600 – 2000 = INR 600
New profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times100$
= $\frac{600}{2000}\times100$
= 30%
Hence, the correct answer is 30%.
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