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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 %.
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Answer Posted / bhagyalakshmikishor
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 %
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