Question : The profit obtained on selling an article for Rs. 600 is equal to the loss incurred on selling the same article for Rs. 400. If the selling price is Rs. 750, then what is the profit percentage?
Option 1: 80%
Option 2: 50%
Option 3: 70%
Option 4: 60%
Correct Answer: 50%
Solution :
Given: The profit obtained on selling an article for Rs. 600 is equal to the loss incurred on selling the same article for Rs. 400.
The selling price is Rs. 750.
Profit percentage = $\frac{SP–CP}{CP}\times 100$, where $CP$ and $SP$ are the cost price and the selling price.
Let the CP of an article be Rs. $x$.
According to the question,
$600-x=x-400$
⇒ $2x=1000$
⇒ $x=$ Rs. 500
The profit percentage $=\frac{750–500}{500}\times 100=\frac{250}{500}\times 100=50$%
Hence, the correct answer is 50%.
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