A person sold an article at a loss of 12 %. Had he sold it for ₹162 more, he would have gained 24 %. If the article is sold for ₹360 then the loss percent is:
Answer & explanation
Correct answer: option 2
Direct concept = Loss% + Profit% = Given profit in rupees
12% + 24% = 162
36% of CP = 162
100% of CP = 450
Selling price of the article= 360
Loss percentage = ( 450 - 360 ) × \(\frac{100}{450}\) = 20%