An article is sold at a certain price by selling the article at 2/3 (two third) of that price, there is a loss of 10%. Find the gain percent at its original price.
Correct Answer :
35%
Solution :
The correct option is 35%.
To find the gain percentage at the original selling price, we can break down the relationship between the cost price, the original selling price, and the new selling price step-by-step.
Step 1: Define the variables
Let the original selling price of the article be .
Let the cost price of the article be .
Step 2: Relate the new selling price to the cost price
According to the problem, if the article is sold at of its original price, there is a loss of 10%.
A loss of 10% means the new selling price is equal to 90% of the cost price .
Therefore, we can write the equation:
Expressing 90% as a fraction:
Simplifying the fraction:
Step 3: Solve for the original selling price in terms of
Multiply both sides of the equation by :
Converting the fraction to a decimal:
Step 4: Find the gain percent at the original price
The original selling price is 1.35 times the cost price, which indicates a gain. The gain is calculated as:
Now, calculate the gain percentage:
Thus, the gain percentage when the article is sold at its original price is 35%.
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