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If an article is sold at 70% of the original selling price, then there will be a loss of 20% on the article. Find the original profit%?


1. 12.5%
2. 14.28%
3. 15%
4. 10%

1 Answer

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Best answer
Correct Answer - Option 2 : 14.28%

Given:

If an article is sold at 70% of the selling price (S.P), then there will be a loss of 20%.

Formula Used:

Profit/Loss% = {(SP – CP)/CP}×100

Calculation:

Let the original (SP) selling price be Rs 100 unit

Now if it is sold at 70% of this S.P, the new S.P will be

⇒ 70% of 100 unit = 70 unit

But as given the loss% is 20% (-1/5) here negative sign indicates the loss

Now as mentioned in the formula,

⇒ 20% = (5 – 1)/5 = SP/CP

⇒ CP = SP(5/4) (As SP is 70 unit)

⇒ CP = (70×5)/4 = (35×5)/2 = 175/2 units

The original profit% will be {(SP – CP)/CP}×100

⇒ Profit% = {(100 – 175/2)/(175/2)}×100 = 1/7 = 14.28%

The profit% is 14.28%

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