Cost Price `= Rs. x`

P = `120% L`
`1060-x=120/100*(x-950)`

`5300-5x = 6x-5700`

`11x = 5300+5700 = 11000`

therefore, `x= Rs.1000`

Now, selling price `=120% of 1000 = 120/100*1000`
Therefore, selling price for the given article is `Rs. 1200` i.e. none of these.