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An article is sold at a certain price. If it is sold at 80% of this price, then there will be a loss of 10%. What is the percentage profit when the article is sold at the original selling price?
Answer & Solution
Correct Answer:
Option
B
$$\eqalign{
& {\text{Let price}} = 100 \cr
& {\text{Sold}} = 100 \times \frac{{80}}{{100}} = 80 \cr
& {\text{Cost price}} = \frac{{80 \times 100}}{{90}} = \frac{{800}}{9} \cr
& {\text{Cost price : Selling price}} \cr
& = \frac{{800}}{9}:100 \cr
& = 800:900 \cr
& {\text{Profit }}\% = \frac{{100}}{{800}} \times 100 = 12\frac{1}{2}\% \cr} $$
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