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What is the percentage profit made by selling an umbrella at a certain price, if by selling at 2/3rd of that price, there would be a loss of 10% ?
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- 25%
- 30%
- 35%
- None of these
Correct Option: C
Let the selling price for the umbrella is P.
Cost price for the umbrella is Q.
Now from question
Q - 2P/3 = 10% of Q.
⇒ P = (3/2)(Q - 10% of Q)
⇒ P = (3/2) x (90/100) x Q
∴ P = 1.35 x Q.
So % profit = [(1.35 x Q - Q)/Q]x100 % = 35 % profit.
