Multiple choice

Vijender sold his mobile at half of the list price and had a loss of 40%. If he had sold on the listed price, his gain percentage would be approximately

  1. 20%

  2. 22%

  3. 24%

  4. 18%

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let list price be L and cost price be C. Selling at L/2 results in 40% loss, so 0.5L = 0.6C, which means L = 1.2C. If sold at list price L, the selling price is 1.2C. This represents a 20% gain over the cost price C.

AI explanation

Let the list price be 100, so selling at half the list price means the selling price is 50. Since this creates a 40% loss, the original cost price is calculated as 50 divided by (1 minus 0.40), resulting in a cost price of 83.33. If the item is sold at the list price of 100, the profit becomes 100 minus 83.33, which equals 16.67. To find the gain percentage, divide 16.67 by 83.33 and multiply by 100, which results in exactly 20%.

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