Sudha sold an article to Renu for ₹576 at a loss of 20%. Renu spent a sum of ₹224 on its transportation and sold it to Raghu at a price which would have given Sudha profit of 24%. The percentage of gain for Renu is:
Answer & explanation
Correct answer: option 3
Sudha sold to Renu for = 576
Loss was = 20%
So,
Cost price for Sudha = Rs. 576 × \(\frac{5}{4}\) = 720
Final cost price for Renu = 576 + 224 = 800
Profit gain for Renu = Rs. 720 × \(\frac{124}{100}\) = 892.8
Profit percentage for Renu = \(\frac{92.8}{800}\) × 100 = 11.6%