Question { Quatrro, 5093 }

a man sells an article at a profit of 20%. if he had bought it for 20% less but sells at the same price, find the gain %.

Answer

to get 20% profit assume cost price is 100 rs and selling price is 120. Then profit %

((selling price - cost price) /cost price)*100

=((120-100)/100)*100
=20%

if he bought it for 20% less then cost price will be 80rs

since he is selling at same price as before i.e. 120rs then the gain % is = ((120-80)/80)*100
= 50 %