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An article is sold with a certain profit percentage such that selling the same at one-third price, there will be a loss of 60%. Find the certain profit percentage.
  • a)
    20%
  • b)
    25%
  • c)
    12%
  • d)
    15%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
An article is sold with a certain profit percentage such that selling ...
Let the selling price of the article =Rs.x
If the article is sold in 1/3 price, then selling price =Rs.x/3 and loss =60%
So, the cost price of the article = Rs.( x/3 ) × (100/40) = Rs. (5x/6) Then, profit earned by selling the article at Rs. x = Rs. x – (5x/6) = Rs.x/6
∴ The required profit percentage = [(x/6)/ (5x/6) × 100]% = 20%.
Alternatively:-
Say CP = 100 Rs. say profit X%
SP = 100 + X
New SP = (100 + X)/3 = 100 - 60
X = 20
Alternative Method: (Easier Method)
Let cost price =100 (Because percentages are mentioned here, and the highest number will be 100)
Loss = 60%
Selling price = 40
Actual selling price = 3 × 40 = 120
Profit = 20 %
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An article is sold with a certain profit percentage such that selling the same at one-third price, there will be a loss of 60%. Find the certain profit percentage.a)20%b)25%c)12%d)15%Correct answer is option 'A'. Can you explain this answer?
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