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On selling an article for Rs 123 40 the gain is...

This question belongs to Arithmetic Ability Profit And Loss
Profit and Loss
?

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?

Answer & Solution
Correct Answer: Option D
Loss : Profit = 5 : 6
Cost 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%
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