A lady sold an article for Rs. 960 at some profit. Had she sold it for Rs. 800, then there would have been a loss equal to 1/3 of the initial profit. What was the profit percentage of the article?

Answer: Option C

S.P₁ = 960
S.P₂ = 800
There would have been a loss equal to $$\frac{1}{3}$$ of the previous profit.
Loss = $$\frac{1}{3}$$ × Profit
C.P - S.P₂ = $$\frac{1}{3}$$[S.P₁ - C.P]
3C.P - 2400 = 960 - CP
4C.P = 3360
C.P = 840
Profit = 960 - 840 = 120
Profit % $$=\frac{120}{840}\times 100=\frac{100}{7}\%$$