Question 57

A person sells an article at a certain price. What is his gain percent, if by selling it at 80% of that price, he loses 16%?

Solution

Let original cost price of article = Rs. $$100x$$ and original selling price = Rs. $$100y$$

=> New selling price = $$\frac{80}{100}\times100y=Rs.$$ $$80y$$

Also, loss % = 16%, => New selling price = Rs. $$84x$$

Thus, from above equations, => $$80y=84x$$

=> $$\frac{y}{x}=\frac{21}{20}$$

Let $$y=21$$ and $$x=20$$

$$\therefore$$ Gain % = $$\frac{(21-20)}{20}\times100=5\%$$

=> Ans - (C)

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