An article is sold at a certain price. If it is sold at 70% of this price, then there is a loss of 10%. What is the percentage profit, when it is sold at the original selling price?
Answer & explanation
Correct answer: option 2
Let the article be originally sold for Rs. 90.
If it is sold at 70% of this price, the selling price would be
⇒ 90 × 70% = Rs. 63
So, the cost price of the article = 63 ÷ 0.9 = Rs. 70
Now, the profit% when it's sold at the original selling price = \(\frac{(90 - 70) × 100}{70}\) = $\frac{200}{7}$%