By selling an item at 7/10th of the actual selling price, a trader mak

Question

By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage?

A. 30% Profit
B. 20% Loss
C. 37 1/7% Profit
D. 33 1/3% Loss
E. 25% Profit

A. 30% Profit
B. 20% Loss
C. 37 1/7% Profit
D. 33 1/3% Loss
E. 25% Profit

Vallabhm001 · Answer

Actual S.P. = 100

\frac{7}{10}  S.P. = 70

C.P. = 70* \frac{5}{6}

-------------------------------------------------------------
Product is sold at 20% less than actual selling price.
Therefore, S.P. = 80

Profit F.O.M. =  \frac{S.P.}{C.P.}  =  \frac{80*6}{70*5}  =  \frac{48}{35}

Profit =  \frac{48-35}{35}  =  \frac{13}{35} *100 = 37.14%

CrackverbalGMAT · Answer

SOLUTION:

Let Original SP = 1000
He is selling at 700/-
Profit =20% which implies
CP*1.2 =700
=>CP=700/1.2 = 583.33 [Final CP]

It is sold at 20% less than the actual SP
=>Sold at= (80/100)*1000
=800/- [Final SP]

Profit% =Profit/CP*100
= (SP-CP)/CP*100
=800-583.33 / 583.33 *100
=37.14 OPTION (C)

Hope this helps

Devmitra Sen(Math)

rajatchopra1994 · Answer

Explanation:

Let, S.P = 100, 1/7th of S.P = 70
Profit = 20%
C.Px1.2 = 70
C.P=70/1.2 = 58.33

if sold at 20% less, S.P will be 80.
Profit = (80-58.33 / 58.33) x 100
=37.13

IMO-C

aishu0091 · Answer

By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss percentage?

A. 30% Profit
B. 20% Loss
C. 37 1/7% Profit
D. 33 1/3% Loss
E. 25% Profit

let the SP be 100 
The new SP = 100*7/10 = 70 
profit= 20%
CP(1+PROFIT%) = SP
CP(1.2) = 70
CP = 58

If he sells the product at 20% less than the actual selling price --> It means he will be selling it at 80% of SP (i.e. 100) 
if he makes a profit selling at 70% SP he will definitely make a profit selling at 80%

A. 30% Profit
B. 20% Loss ---> Eliminated 
C. 37 1/7% Profit
D. 33 1/3% Loss ---> Eliminated 
E. 25% Profit

SP =80 
CP = 58 
Profit = 80-53 =22
22/53*100 =37% hence (c)

deeuce · Answer

if sold at 0.7 SP --> then CP x 1.2 if sold at 0.8 SP --> then (CP x 1.2) x 0.8 / 0.7 therefore profit = CP x 0.96/0.7 or 9.6/7 = CP x 1.37_ _ ( by this point answer is obvious).

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By selling an item at 7/10th of the actual selling price, a trader mak

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