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 profit % if the article is sold out at 60% of its original selling price?
Answer & explanation
Correct answer: option 1
Assume SP = 300
If it is sold at 33\(\frac{1}{3}\)% of this price i.e. \(\frac{1}{3}\) x 100 = 100
there is loss of 33\(\frac{1}{3}\)%
Thus, we can form a ratio of CP : SP = 3 : 2
Now 2 R = 100(as assumed earlier)
1 R → 50 CP = 3 R = 150
If article sold at 60% of original SP → 300 × \(\frac{60}{100}\) = 180
P% = \(\frac{30}{150}\) × 100% = 20%