Question : On selling an article for INR 115, the gain is 20% more than the loss incurred on selling it for INR 104. If the article is sold for INR 130.80, then the profit percentage is:
Option 1: 25
Option 2: 18
Option 3: 30
Option 4: 20
Correct Answer: 20
Solution :
Let the cost price (CP) of the article be INR $x$.
According to the question
$(115 - x) = (x - 104) × \frac{120}{100}$
⇒ $5(115 - x) = 6(x - 104)$
⇒ $575 - 5x = 6x - 624$
⇒ $6x + 5x = 624 + 575$
⇒ $11x = 1199$
⇒ $x = \frac{1199}{11}$
⇒ $x = 109$
CP of the article = INR 109
The new SP of the article = INR 130.80
So, the profit percentage = $\frac{(130.80 – 109)}{109}$ × 100 = 20%
Hence, the correct answer is 20.
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