A man loses 28% by selling an article for ₹144. If he sells it for ₹288, what will be his gain/loss percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Gain, 44%.
Let the cost price (C.P.) of the article be x
So,
The selling price(S.P.) of the article = 72% × x
⇒ 144 = 72% × x
⇒ x = (144 × 100)/72
⇒ x = 200
So, the cost price of the article is ₹200
Gain = S.P. - C.P.
Gain = 288 - 200 = ₹88
Now,
⇒ Gain% = Gain/C.P. × 100
⇒ Gain% = 88/200 × 100 = 44%