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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 per cent?
1. Loss 5%
2. Gain 5%
3. Gain 2.5%
4. Loss 2.5%

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Best answer
Correct Answer - Option 2 : Gain 5%

Given :

When article sold at Rs. 123.40 it gains

When article sold at Rs. 108 it losses

Gain is 20% more than the loss

To find :

Gain or loss when article sold at Rs. 120.75

Formula used :

Loss = cost price - selling price

Gain = selling price - cost price

Gain% = (Gain/cost price) × 100

Solution :

Let the cost price be x

It losses when selling price = Rs. 108

⇒ Loss = (x - 108)     ----(1)

It gains when selling price = Rs. 123.40

⇒ Gain = (123.40 - x)

A.T.Q.,

(123.4 - x) = (x - 108) × (120/100)

⇒ 1234 - 10x = 12x - 1296

⇒ 22x = 2530

⇒ x = 115

So, cost price = Rs. 115

Now,

Selling price = 120.75

⇒ Gain = 120.75 - 115

⇒ Gain = 5.75

⇒ Gain% = (5.75/115) × 100

⇒ Gain% = 5%

∴ The gain% when sold at Rs. 120.75 is 5%.

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