A vendor sells his articles at a certain profit percentage. If he sells his article at $$\frac{1}{3}$$ of his actual selling price, then he incurs a loss of 40%. What is his actual profit percentage?
a) 72%
b) 120%
c) 80%
d) 60%
Answer: c
Explanation:
100 (CP) == 80%↑ ⇒ 180(SP)
$$\frac{1}{3}$$ of SP = $$\frac{180}{3}$$ = 60
Loss = 40% = 100 – 60 = 40
Hence, option (c) is correct as it gives 40% loss on CP on reducing the price to $$\frac{1}{3}$$ of CP.
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