A shopkeeper sells an article at Rs. 40 and gets X% profit
A shopkeeper sells an article at Rs. 40 and gets X% profit. However, when he sells it at Rs. 20, he faces same percentage of loss. What is the original cost of the article?
- Rs. 10
- Rs. 20
- Rs. 30
- Rs. 40
Answer
Profit and loss is calculated on the cost price. Let the cost price of the article be P.
Profit % = Loss %
(40 - P)/P = (P - 20)/P
2P = 60
P = 30
The correct option is C.