An article is sold at a certain price. If it is sold at 70% of this price, then there is a loss of 10%. What is the percentage profit, when it is sold at the original selling price?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. %
Suppose the article is sold for Rs 100
If it is sold at 70% of the original Selling price, the new SP will be Rs 70
If it is sold for 70, there is a loss of 10%
The Cost Price = (100/90) × 70 = 700/9
if it sold for Rs 100, then the profit% is equal to
⇒ profit % = [{ 100 - 700/9}/700/9 ] × 100
⇒ (200/700) × 100 =