60 % of cost price of an article is equal to 50 % of its selling price. Then percentage of profit or

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7.Profit and Loss

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$60 \%$ of the cost price of an article is equal to $50 \%$ of its selling price. Then the percentage of profit or loss on the cost price is

A

$20 \%$ loss

B

$16 \frac{2}{3} \%$ profit

C

$20 \%$ profit

D

$10 \%$ loss

Solution

Let, the $C.P.$ of article be $₹ 100$ and its $S.P.$ be $₹ x$

Now, according to the question,

$100 \times \frac{60}{100}=\frac{x \times 50}{100}$

$\Rightarrow 60=\frac{x}{2} \Rightarrow x=120$

$\therefore \quad \operatorname{Gain} \%=20 \%$

Standard 13

Quantitative Aptitude

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