A person sold an article at a loss of 18%. Had he sold it for ₹960 more, he would have gained 12%. If the article is sold for ₹3,840, then how much is the profit percentage?
Answer & explanation
Correct answer: option 3
The initial loss = 18%
Let, the cost price of the article = ₹ x
So, (\(\frac{82x}{100}\) ) + 960 = (\(\frac{112x}{100}\))
⇒ (\(\frac{112x}{100}\))- (\(\frac{82x}{100}\) ) = 960
⇒ (\(\frac{30x}{100}\) ) = 960
⇒ x = (\(\frac{960 × 100}{30}\) ) = 3200
∴ The cost price of the article = 3200
Required selling price = 3840
Then, profit = 3840 - 3200 =640
The profit percentage = (\(\frac{640}{3200}\))× 100 = 20%