On selling an article for Rs246 80 the gain is 20 more than the amount of loss incurred on selling i...........

Quantitative Aptitude (CGL) Profit and loss

On selling an article for Rs246.80, the gain is 20% more than the amount of loss incurred on selling it for Rs216. If the article is sold for Rs220.75, then what is the gain/loss percent(correct to nearest integer)?

This questions was previously asked in

SSC CGL 16th August 2021 Shift-1

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Profit 7%

Loss 5%

Loss 4%

Profit 3%

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Explanation:

Correct option 3: 4%
Let the cost price be x
It losses when selling price = Rs. 216
Loss = (x-216)
It gains when selling price = Rs. 246.80
Gain (246.80 x)
According to the question
(246.80-x) = (x-216) x (120/100)
2468 - 10x = 12x - 2592
22x = 5060
x=230
So, cost price = Rs. 230
Now,
Selling price = 220.75
Loss = 230-220.75
Loss = 9.25
Loss % = (9.25/230) × 100
Loss % = 4.02% ~4%
.:The loss percent is 4%