An article is sold at a certain price. If it is sold at 33% of this price, there is a loss of 33%. What is the percentage profit if the article is sold at 80% of its original selling price?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 60%
Let the certain SP = 300x
33.33% = 1/3
1/3 of 300x = 100x
Loss of 33.33%
If CP = 3 units then SP = 2 units,
2 units = 100x
3x = (100x/2) × 3 = 150x
80% of 300x = 240x
Profit = 240x - 150x = 90x
Profit% = 90x/150x × 100 = 60%