Question

an article is sold 4 rupees 420 at a loss of 10% what would have been the gain or loss percent if the same article have had been sold 4 rupees 500?

Answer 1

SP of article = Rs 420
Loss% = 10%
CP of article = (100/100-loss%)×SP
=(100/100-10)×420
= 100/90×420
= Rs 466.66
New SP of article = Rs 500
SP>CP Hence Gain
Gain = SP-Cp
= 500-466.66
= Rs 33.34
gain%= Gain/CP × 100
= 33.34/466.6×100
= 7.14%