A person sold an article for Rs. 3600 and got a profit of 20%

A person sold an article for Rs. 3600 and got a profit of 20%. Had he sold the article for Rs. 3150, how much profit would he have got?

  1. 10%
  2. 6%
  3. 5%
  4. 4%

Answer

Let the cost price be Rs x. Since the profit is 20%, we have

x(1 + 0.2) = 3600 or x = 3600/1.2 = 3000

Now, if he had sold the article for 3150, profit = 150 

So, profit % = (150 / 3000) × 100% = 5%

The correct option is C.