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Aman got 10% profit by selling a mobile for Rs. 1320. At what price should the mobile be sold to suffer 12% loss?
1. Rs. 1056
2. Rs. 1344
3. Rs. 1440
4. Rs. 1156
5. Rs. 956

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Correct Answer - Option 1 : Rs. 1056

Given:

Profit percentage = 10%

Selling price of a mobile = Rs. 1320

Loss percentage = 12%

Formula Used:

C.P = S.P × {100/(100 + P%)}

S.P = C.P × {(100 - L%)/100}

Where C.P = Cost Price, S.P = Selling Price, P% = Profit Percent, L% = Loss Percent

Calculation:

(S.P)1 = Rs. 1320

C.P = (S.P)1 × {100/(100 + P%)}

⇒ 1320 × {100/(100 + 10)}

⇒ 1320 × {100/110}

⇒ 1320 × (10/11)

⇒ 1200

Cost price of a mobile = Rs. 1200

Again,

(S.P)2 = C.P × {(100 - L%)/100}

⇒ 1200 × {(100 - 12)/100}

⇒ 1200 × (88/100)

⇒ 12 × 88

⇒ 1056

∴ Aman will sell the mobile for Rs. 1056 to suffer 12% loss.

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