Question:
A vendor sells his articles at a certain profit percentage. If he sells his article at 1/3 of his actual selling price, then he incurs a loss of 40%. What is his actual profit percentage?

Option A):
80%
Option B):
60%
Option C):
72%
Option D):
120%

Correct Answer is Option A):
80%

Explanation:
Go through the option:
100 (CP)== 80%↑==> 180(SP)
1/3 of SP = 180/3 = 60
Loss = 40% = 100 -60 = 40
Hence, option (3) is correct as it gives 40% loss on CP on reducing the price to 1/3 of CP.