On selling an article for Rs. 115, the gain is 20% more than the loss incurred on selling it for Rs. 104. If the article is sold for Rs. 130.80, then find the profit percentage.
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Correct answer: D
Explanation
The correct answer is option 4 i.e. 20
Let the cost price = x
Selling price of article = Rs 115
Profit = 115 – x
Gain = 20% more than loss incurred on selling it for Rs. 104.
Loss = x – 104
⇒ (115 - x) = (6/5)(x - 104)
⇒ 11x = 1199
⇒ x = 109
If the selling price of article = Rs 130.80
Profit = 21.8
Profit percentage = (21.8/109) x 100 = 20%