Question

Profit earned by Arvind by selling a table at Rs.1708 is same as the loss incurred by selling the table for Rs 1092. What is the selling price of the table if it is sold at 10% profit.
1. Rs.1400
2. Rs.1440
3. Rs.1200
4. Rs.1540

Answer 1

Correct Answer - Option 4 : Rs.1540
Given

Selling price of table, when there is profit = Rs.1708

Selling price of table, when there is loss = Rs.1092

Profit = loss

Formula used

Selling price = Cost price + Profit, when selling price > cost price

or 

Selling Price = Cost price - Loss, when cost price > loss

Calculation

Let the profit and loss is Rs. x

1708 = cost price + x

1708 - x = cost price     ---(1)

1092 = cost price - x

1092 + x = cost price      ---(2)

From (1) and (2)

1708 - x = 1092 + x

⇒ 1708 - 1092 = x + x

⇒ 616 = 2x

⇒ 308 = x

Cost price = Rs. (1708 - 308)

Cost price = Rs.1400

Selling price = 1400 + 10% of 1400

⇒ 1400 + 140

⇒ Rs.1540

∴ Selling price of table is Rs.1540, when there is a profit of 10%.