A person X sold an Item to Y at 40% loss, then Y sold it to third person Z at 40% profit and finally Z sold it back to X at 40% profit. In this whole process what is the percentage loss or profit of X?

Let X's initial item value = Rs 100. X sells to Y at 40% loss: Y pays = 100 × 0.60 = Rs 60. Y sells to Z at 40% profit: Z pays = 60 × 1.40 = Rs 84. Z sells back to X at 40% profit: X pays = 84 × 1.40 = Rs 117.60. X's total cash flow: received Rs 60, paid Rs 117.60, net loss = Rs 57.60 on initial value of Rs 100. Loss percentage = 57.60%. Therefore C (57.6%) is correct.