By selling an article at 9/11 of its actual selling price, a trader incurs a loss of 10%. What will be the profit percentage, if the article is sold for 8% less than its actual selling price?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e..
Let the actual SP of the article be 11
SP of the article = 11 × (9/11) = 9
CP of the article = 9 × (100/90) = 10
SP of the article if the article is sold at 8% less than the actual SP of the article = 11 × (92/100) = 10.12
Profit = 10.12 - 10 = 0.12
Profit percentage = [0.12/10] × 100 = 1.2% or %