By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage? : Crackverbal Support

By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage? Print

Modified on: Tue, 12 Oct, 2021 at 12:27 PM

CONCEPTS: The question applies the concepts of Profit/Loss(Percentage)

SOLUTION:

Let Original SP = 1000
He is selling at 700/-
Profit =20% which implies
CP*1.2 =700
=>CP=700/1.2 = 583.33 [Final CP]

It is sold at 20% less than the actual SP
=>Sold at= (80/100)*1000
=800/- [Final SP]

Profit% =Profit/CP*100
= (SP-CP)/CP*100
=800-583.33 / 583.33 *100
=37.14 OPTION (C)

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By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage? Print

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