On selling an article for Rs. 123.40 the gain is 20% more than the amount of loss incurred on selling it for Rs. 108. If the article is sold for Rs. 120.75, then what is the gain/loss percent?
A. Loss 2.5%
B. Loss 5%
C. Gain 2.5%
D. Gain 5%
Answer: Option D
Solution (By Examveda Team)
Loss : Profit = 5 : 6Cost price = 123.40 - 6x = 108 + 5x
11x = 15.40
x = 1.4
Cost price = 108 + 5 × 1.4 = 115
Now Selling price = 120.75
Profit = 5.75
Profit % = $$\frac{{5.75}}{{115}}$$ × 100 = 5%
This Question Belongs to Arithmetic Ability >> Profit And Loss
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