An article is sold for ₹ 300 at a profit of 20%. Had

Home » Aptitude » Profit and Loss » Question

An article is sold for ₹ 300 at a profit of 20%. Had it been sold for ₹ 235, the loss percentage would have been ?

1. 3%
2. 5%
3. 6%
4. 16%

Correct Option: C

Let the cost price of article = ₹ N
Then, 120% of N = 300
⇒ (120 x N)/100 = 300
∴ N = (300 x 100)/120 = ₹ 250
Now, SP = ₹ 235
Then, loss percentage = [(250 - 235)/250 ] x 100 = 6%