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The question states that a man sold an article at Rs. 270 and incurred a loss of 10%. We need to determine the gain percent if he sold the same article for Rs. 360.
To solve this problem, let`s first calculate the cost price (CP) of the article. We know that the selling price (SP) is given by the equation:
SP = CP - (Loss/100) * CP
Substituting the given values, we get:
270 = CP - (10/100) * CP
Simplifying the equation, we have:
270 = CP - 0.1CP
270 = 0.9CP
Dividing both sides by 0.9, we find:
CP = 270 / 0.9
CP = 300
So, the cost price of the article is Rs. 300.
Next, we need to calculate the profit obtained when the article is sold for Rs. 360.
The profit percent can be calculated using the formula:
Profit Percent = (Profit / CP) * 100
Substituting the given values, we get:
Profit Percent = ((360 - CP) / CP) * 100
Profit Percent = ((360 - 300) /