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A person incurs 5% loss by selling a watch for Rs.1140. At what price should the watch be sold to earn 5% profit?
1. Rs.1200
2. Rs.1260
3. Rs.1399
4. Rs.1400

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Best answer
Correct Answer - Option 2 : Rs.1260

GIVEN:

5% loss by selling a watch = Rs.1140

FORMULA USED:

SP = CP × (100 ± Profit/loss)/100

CALCULATION:

SP = CP × (100 ± Profit/loss)/100

⇒ 1140 = CP × (100 - 5)/100

⇒ 1140 = CP × 95/100

⇒ CP = 1200

⇒ SP = CP × (100 ± Profit/loss)/100

⇒ SP = 1200 × 105/100

⇒ SP =1260

∴ Required Selling Price to earn 5% profit is Rs.1260

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