Question : The profit obtained on selling an article for Rs. 310 is equal to the loss incurred on selling that article for Rs. 230. What will be the loss percentage when the selling price is Rs. 180?
Option 1: $16\frac{1}{3}$
Option 2: $16\frac{2}{3}$
Option 3: $33\frac{1}{3}$
Option 4: $33\frac{2}{3}$
Correct Answer: $33\frac{1}{3}$
Solution :
According to the question,
310 – Cost price = Cost price – 230
⇒ Cost price = $\frac{310 + 230}{2}=270$
When selling price = INR 180
Loss percentage = $\frac{270-180}{270}$×100 = $33\frac{1}{3}$%
Hence, the correct answer is $33\frac{1}{3}$.
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