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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