A person sold an article at a loss of 16%. Had he sold it for Rs. 660 more, he would have gained 8%. If the article is sold at Rs. 3,080, then how much profit percentage is gained?

Answer: Option C

Solution

Answer: Option C

Solution:

$$\begin{array}{rl}& 25x+\frac{108}{100}=21x+660\\ & 6x=660\\ & x=110\\ & \text{Cost price}=25\times 11=2750\\ & \text{Selling price}=3080\\ & \text{Profit}=3080-2750=330\\ & \text{Profit }\%=\frac{330\times 100}{2750}=12\%\end{array}$$