Question

Profit earned by selling an article for Rs. 1060 is 20% more than the loss incurred by selling the article for Rs. 950. At what price should the article he sold to earn 20% profit? `R s .980` b. `R s .1080` c. `R s .1800` d. none of these

Answer 1

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.