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Profit, Loss and Discount
If goods are purchased for Rs.840 and one-fourth is sold at a loss of 20%, at what gain percent should the remainder be sold so as to gain 20% on the whole transaction?
Correct answer: C
Explanation and memory cue
The total cost is Rs.840. One-fourth (Rs.210) is sold at 20% loss, so selling price = 210 - 20% of 210 = Rs.168. To gain 20% overall, total selling price should be 840 + 20% of 840 = Rs.1008. The remainder cost is Rs.630, so selling price needed = 1008 - 168 = Rs.840. Gain on remainder = (840 - 630)/630 = 33 1/3%.