Q62
ArithmeticPercentage, Profit & Loss
On selling an article for a certain price, a man loses 30%. What is his loss/profit percent, if he sells the article for double the price?
- a.60% loss
- b.15% loss
- c.40% profit
- d.30% profit
Answer: (C) 40% profit
With cost price 100, a 30% loss means a selling price of 70. Double that is 140, a profit of 40%. Doubling the 30% loss to 60% loss is the obvious trap.