Q. 60 % of the cost price and 40% of the selling price are equal. Find the profit or loss percentage?

Soln:

Let cp be cost price and sp be selling price, then

According given condition,

60% of cp = 40% of sp

0.6cp = 0.4sp

sp = (0.6/0.4)cp

sp = 1.5cp

Since, sp>cp there is profit

profit = sp - cp

          = 1.5cp - cp = 0.5cp

profit% = (profit/cp)*100%

             = (0.5cp/cp)*100%

             = 0.5*100%

             = 50% Ans.