On selling an article for ₹ 246.80 , the gain is $20 \%$ more than the amount of loss incurred on selling it for ₹ 216 . If the article is sold for $₹ 220.75$, then what is the gain/loss percent (correct to nearest integer)?

Loss 4%

First selling price of the article = ₹ 246.80

Second selling price of the article =  ₹ 216

Difference between first selling price and second selling price = Profit is 20% more than loss given in the statement

Let the loss = x

 246.80 - 216 = 6x + 5x 

11x = 30.8

x = 2.8

5X = 14

CP = 216 + 14 = 230

New selling price = 220.75

Loss = \(\frac{(230 - 220.75) × 100}{230}\) = 4%