Question

By selling a stool for $240 a carpenter loses 20%. How much per cent would he gain or lose by selling it for $360?

Answer 1

Assume x is the cost price,

x-20% of x will be $240

x-20x/100=240

x=300$

now, CP=300, and SP=360

gain=60$

percent gain=(60/300) x 100=20%

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Answer 2

Answer:

the answer is 2% not 20