When the selling price of an article is Rs.280, the loss percentage is 20%. What is the loss or gain percentage, if the selling price is increased to Rs.380?

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Given:
When the selling price of an article is Rs.280, the loss percentage is 20%.
To find:
What is the loss or gain percentage, if the selling price is increased to Rs.380?
Solution:
Let the Cost Price (CP) = 100
From given, we have,
Loss % = 20%
So the value of Cost Price after loss becomes 80%.
Selling price (SP) = Rs. 280.
The value of SP is 80% of CP, so, we get,
= (280/80) × 100
= Rs. 350
New new SP = Rs. 380.
The difference between the new SP and CP is
= 380 - 350
= 30 > 0
Profit = Rs. 30
Profit percentage = (30/350) × 100 = 8.57%
Therefore, the gain percentage, when the selling price is increased to Rs.380 is 8.57%
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