Question

A man buys an article for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is:

• A. No profit, no loss
• B. 20% profit
• C. Less than 20% profit
• D. More than 20% profit
• E. Data insufficient

Answer 1

The correct option is D

More than 20% profit

Let the article be worth Rs. x.

C.P. = 90% of Rs. x = $\frac{9x}{10}$; S.P. = 110\% of Rs. x = Rs. $\frac{11x}{10}$.

Gain = Rs. $\left(\frac{11x}{10}-\frac{9x}{10}\right)$= Rs. $\frac{x}{5}$.

$\therefore$ Gain %= $\left(\frac{x}{5}\times \frac{10}{9x}\times 100\right)\%=22\frac{2}{9}\%>20\%$.