When a person sells an article for ₹1,200, he earns a profit that is equal to twice the amount of loss he would incur on selling the article for ₹750. If he sells the article for ₹925.20, then there is a:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. gain of 2.8%.
1200 - CP = 2(CP - 750)
1200 - CP = 2CP - 1500
CP = 2700/3 = 900
New SP = 925.20
Gain = 925.20 - 900 = 25.20
Gain percentage = (25.20/900) × 100 = 2.8%