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# If an article is sold at 80% of its present selling price,

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If an article is sold at 80% of its present selling price, [#permalink]  10 Oct 2013, 01:20
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Hi ,

can anyone help how to solve the following problem ? I am struggling

If an article is sold at 80% of its present selling price,the merchant will make a loss of 4%.What is the % profit does he make by selling at the current selling price?

P.S: Answer choices was not provided.
[Reveal] Spoiler:

Source :4Gmat
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Joined: 04 Apr 2013
Posts: 153
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Kudos [?]: 34 [0], given: 36

Re: If an article is sold at 80% of its present selling price, [#permalink]  10 Oct 2013, 04:38
Hi ,

can anyone help how to solve the following problem ? I am struggling

If an article is sold at 80% of its present selling price,the merchant will make a loss of 4%.What is the % profit does he make by selling at the current selling price?

P.S: Answer choices was not provided.
[Reveal] Spoiler:

Source :4Gmat

SP = selling price
CP = Cost Price

80% of SP = 80/100 (SP) = 4/5(SP)

-- Given ---

[ CP minus (80% of SP)] / CP = 4%

so ( CP - 4/5SP ) / CP = 4/100 -------> EQ 1

when you solve EQ 1, you get

SP = 6/5 CP

Now the profit % if you sell at current selling price.. Let x be the profit %.

CP + CP (x/100) = SP

CP + CP * x/100 = 6/5 CP

1 + x/100 = 6/5
x/100 = 1/5

x= 20.

So prift % = 20%
_________________

MGMAT1 - 540 ( Trying to improve )

Re: If an article is sold at 80% of its present selling price,   [#permalink] 10 Oct 2013, 04:38
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