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What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20%?

Correct answer: A. 20%

  • A. 20%
  • B. 25%
  • C. 13 1/30%
  • D. 12%

Explanation

Let the stated selling price be Rs.100. At two-thirds of this price, the selling price is Rs.66 2/3 and this represents 80% of the cost price, so CP = Rs.66 2/3 / 0.8 = Rs.83 1/3. Selling at Rs.100 gives a profit of Rs.16 2/3, and profit percent = Rs.16 2/3/Rs.83 1/3 x 100 = 20%. Students often choose b by treating the difference between Rs.100 and Rs.66 2/3 as a percentage of the selling price rather than the cost price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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