Question

A merchant gains 20 %by selling an article for rs 480. what percent would he have gained or lost if he had sold it for rs 430​

Answer 1

Answer: 7.5% gain

Explanation:

First find the original price of the article.

Assume this price to be x.

x + (x * 20%) = 480

x + 0.2x = 480

1.2x = 480

x = 480/1.2

x = Rs. 400

Original price is Rs. 400.

If the merchant had sold the article for 430, the percent gain would have been:

= (Selling price - original price) / Original price

= (430 - 400) / 400

= 7.5%