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Word Problem - Profit/Loss

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by sukhman » Fri Oct 18, 2013 9:22 pm
If A sells an item at three fourth of its selling price he incurs a loss of 4%. What will be the profit or loss percentage if he sells at actual selling price
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by GMATGuruNY » Sat Oct 19, 2013 3:01 am
sukhman wrote:If A sells an item at three fourth of its selling price he incurs a loss of 4%. What will be the profit or loss percentage if he sells at actual selling price
Let the cost price = 100.
A loss of 4% = 96.
Since a loss of 4% is equal to 3/4 of the actual selling price, we get:
96 = (3/4)x
x = 128.
Thus:
Profit at the actual selling price = (actual selling price) - (cost price) = 128-100 = 28.
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