On selling an article for ₹115, the gain is 20% more than the loss incurred on selling it for ₹104. If the article is sold for ₹130.80, then the profit percentage is:
Answer & explanation
Correct answer: option 4
\(\frac{P}{L}\) = \(\frac{6}{5}\)
In both cases Cost price will be same.
⇒ S.P1 - P = S.P2 + L
⇒ 115 - 6n = 104 + 5n
⇒ 6n + 5n = 115 - 104
⇒ 11n = 11
⇒ n = 1
⇒ 115 - 6 = 109 = C.P.
New SP of the article = Rs. 130.80
P% = \(\frac{(130 – 109) × 100}{109}\) = 20%