Armaan sold an item for Rs. 600. If he had sold it for Rs. 120 more, he would have earned a profit of 25%. Determine the profit/loss percentage incurred by Armaan when he sold the article for Rs. 600.
ATQ, Selling price of the item if Armaan had sold it for Rs.120 more = 600 + 120 = Rs.720 Cost price of the article = 720 × (100/125) = Rs.576 Profit earned when the article was sold for Rs. 600 = 600 – 576 = Rs.24 Required profit percentage = (24/576) × 100 = 4.16%
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