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A person sold an article at a loss of 16%. Had he sold it for Rs. 660 more, he would have gained 8%. If the article is sold at Rs. 3080, then how much profit percentage is gained ?

A person sold an article at a loss of 16%. Had he sold it for Rs. 660 more, he would have gained 8%. If the article is sold at Rs. 3080, then how much profit percentage is gained ? Correct Answer 12%

Concept used:

Profit% = (Profit/cost price) × 100

Calculation:

Let the cost price be 'X'.

⇒ 108X/100 - 84X/100 = 660

⇒ 24X = 66000

⇒ X = 2750

When article sold at Rs. 3080

⇒ Profit = 3080 - 2750 = 330

Profit%

⇒ (330/2750) × 100

⇒ 12%

∴ The profit% is 12%.

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