A man sells an article at a profit of 20% If he had bought it for 20% less but sells at the same price, find the gain % Options :50%20%30%none
Question
A man sells an article at a profit of 20%
If he had bought it for 20% less but sells at the same price, find the gain %
Options:
- 50%
- 20%
- 30%
- none
Solution
Let's solve this step by step:
- Assume the cost price of the article is $100.
- The man sells it at a profit of 20%, so the selling price is $120.
- If he had bought it for 20% less, the cost price would be $80.
- But he sells it at the same price, which is $120.
- Now, the gain is the selling price minus the new cost price, which is 80 = $40.
- To find the gain percentage, we divide the gain by the cost price and multiply by 100. So, the gain percentage is (80)*100 = 50%.
So, the answer is 50%.
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