An article is sold at a certain price. If it is sold at $33\frac{1}{3}$% of this price, there is a loss of $33\frac{1}{3}$% . What is the percentage profit or percentage loss when it is sold at 40% of the original selling price?
Answer & explanation
Correct answer: option 3
Let the total price of the article = 6
If it is sold at 33.33% of this price then there will be a loss of 33.33% it means,
CP = 6 × \(\frac{1}{3}\) × \(\frac{3}{2}\)
CP = 3
40% of the marked price = 40% of 6 = 2.4
So loss = 3 - 2.4 = 0.6
Loss% = 0.6 × \(\frac{100}{3}\) = 20%