Multiple choice

A person bought an article and sold it at a profit of 20%. Had he bought it at 20% less, what would have been the profit percentage if the selling price had been the same?

  1. 25%

  2. 40%

  3. 50%

  4. 60%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = 100. SP = 120. If CP is 20% less, new CP = 80. SP remains 120. Profit = 120 - 80 = 40. Profit % = (40 / 80) * 100 = 50%.

AI explanation

Assume the initial cost price is 100, making the selling price 120 to achieve a 20% profit. The new cost price is 20% less, making it 80. Using the profit percentage formula, the profit becomes 120 minus 80 over 80 multiplied by 100, resulting in a 50% profit.

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