A person sold an article at a loss of 16%. Had he sold it for ₹660 more, he would have gained 8%. If the article is sold at ₹3,080, then how much profit percentage is gained?
Answer & explanation
Correct answer: option 4
Let the cost price be X
⇒ \(\frac{108x}{100}\) - \(\frac{84x}{100}\) = 660
⇒ 24X = 66000
⇒ X = 2750
When article sold at Rs. 3080
⇒ Profit = 3080 - 2750 = 330
Profit%
⇒ \(\frac{330}{2750}\)× 100
⇒ 12%