An article is sold at a certain price. If it is sold at \(\frac{2}{3}\) of that price, one loses 10%.
Find the gain percentage at original price.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → 35%
The cost price stays the same in both sales, so the loss at \(\frac{2}{3}\) of the price tells us how the selling price compares with the cost price.
Assuming the cost price to be 100:
A loss of 10% means \(\frac{2}{3}\) of the selling price is 90
Selling price \(\displaystyle =90\times\frac{3}{2}=135\)
Gain at the original price \(=135-100=35\), that is, a gain of 35%