A person sold an articles at a loss of 18%. Had he sold it for Rs960 more. he would have gained 12%. If the articles is sold for Rs3,840, then how much is the profit percentage ?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 20%
Solution :
Let the cost price of the articel be Rs. x
At 18% loss, s.p. = 82x/100
Also at 12% gain, s.p. = 112x/100
Given that the difference between the selling price = Rs. 960
112x/100 - 82x/100 = 960
30x = 96000
x = 3200
Hence c.p. = Rs. 3200
If the article is sold for Rs, 3840, profit = 3840 - 3200 = 640
Profit percentage = (640/3200) × 100 = 20%.