Question

An item is sold at a fixed price. Had it been sold at 2/3 the fixed price, there would have been a 10% loss. Accordingly how much profit would there be on selling at a fixed price?
1. 15%
2. 25%
3. 35%
4. 45%

Answer 1

Correct Answer - Option 3 : 35%

Given:

SP = 2/3 Fixed Price 

Formula used:

Profit % = ((SP - CP)/CP)× 100

Calculation:

Let the cost price of item = 100x

The article is sold at 10% loss , then SP = 90x

Fixed price = 3/2 × 90x = 135x

Profit percentage, when article is sold at fixed price

⇒ [(135x -100x) × 100]/100x

Profit percentage = 35%

∴ The profit percentage would be 35%.