Question

The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the same article is sold for Rs. 448. Then the sale price of the article for making 50% profit should be (in rupees)
1. 920
2. 960
3. 1060
4. 1200

Answer 1

Correct Answer - Option 2 : 960

Given:

Original Selling Price = Rs. 832

New Selling Price = Rs. 448

Profit earned by selling the article for Rs. 832 = Loss incurred by selling the article at Rs. 448

Formula Used:

Profit = SP - CP

Loss = CP - SP

SP = CP × {(100 + Profit%)/100}

where, 

SP = Selling Price,

CP = Cost Price

Calculation:

According to the question,

Profit earned by selling the article for Rs. 832 = Loss incurred by selling the article at Rs. 448

⇒ Original SP - CP = CP - New SP

⇒ 832 - CP = CP - 448

⇒ 2 × CP = 832 + 448 

⇒ CP = 1,280/2

⇒ CP = Rs. 640

Now, the Selling Price for making 50% profit,

SP = CP × {(100 + Profit%)/100}

⇒ 640 × {(100 + 50)/100}

⇒ 640 × (150/100)

⇒ 640 × (3/2)

⇒ 320 × 3

⇒ Rs. 960

∴ The sale price of the article for making 50% profit should be Rs. 960.