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An good is sold at a certain price. By selling it at ¾ of that price one loses 20%. Find the profit percent at its original price.
- a)6.66%
- b)3.66%
- c)4.66%
- d)5.66%
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
An good is sold at a certain price. By selling it at ¾ of that ...
From given data
Let the original selling price of article be Rs. x. Then, new selling price = Rs. ¾ x
Given that loss = 20%
∴ Cost price = (100/80 × 3x/4) = 15x/16
⇒ Profit = (x – 15x/16) = Rs. x/16
∴ Profit % = (profit/cost price × 100 )% = (x/16 × 16/15x × 100 ) = 6.66%
Let the original selling price of article be Rs. x. Then, new selling price = Rs. ¾ x
Given that loss = 20%
∴ Cost price = (100/80 × 3x/4) = 15x/16
⇒ Profit = (x – 15x/16) = Rs. x/16
∴ Profit % = (profit/cost price × 100 )% = (x/16 × 16/15x × 100 ) = 6.66%
Most Upvoted Answer
An good is sold at a certain price. By selling it at ¾ of that ...
A higher price, the seller can make a profit. However, if the price is too high, the demand for the good may decrease, resulting in lower sales and potentially lower profits. Therefore, finding the optimal price point that balances both profit and demand is crucial for businesses. This process is known as pricing strategy and involves analyzing market trends, competition, and consumer behavior to determine the most effective pricing strategy.
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An good is sold at a certain price. By selling it at ¾ of that price one loses 20%. Find the profit percent at its original price.a)6.66%b)3.66%c)4.66%d)5.66%Correct answer is option 'A'. Can you explain this answer?
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