An article is sold at a certain price. By selling it at \(\frac{2}{3}\) of that price one loses 10%. Find the gain percentage at original price:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 35%
The cost price stays the same in both sales, so the loss at the lower price tells us the cost in terms of the original selling price.
Assuming the cost price to be 100:
At a 10% loss, the lower price \(=90\)
This is \(\frac{2}{3}\) of the original price, so the original price \(=90\times\frac{3}{2}=135\)
Gain at the original price \(=135-100=35\) on a cost of 100, that is, 35%