Question

If selling price of an umbrella is to 4/3 of its cost price, find the gain or loss percent.

Answer 1

let cp be x

selling price of an umbrella is to 4/3 of its cost price, hence sp will be 4x/3

cp                          sp

x--------------------->4x/3

here we can observe that he gained profit and profit % is  

i)if cp>sp then profit % is[(cp-sp)/cp]*100

ii)if sp>cp then [(sp-cp)/cp]*100

now profit % in this case is [(4x/3)-x]/x*100

=>33.33% is profit %