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Prakash wants to sell an watch with 20% profit, but he actually sold at 15% loss for Rs. 340, At what price he wanted to sell it to earn the 20% profit?
1. Rs. 480
2. Rs. 320
3. Rs. 350
4. Rs. 400

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Correct Answer - Option 1 : Rs. 480

Given

 Selling price of an watch with 15% loss = Rs. 340

Formula 

Profit = Selling price – Cost price

Calculation 

Selling price = 100% - 15% = 85%

⇒ 85% = 340

⇒ 120% = X ....... (Profit 20%)

⇒ X = [(120 × 340)/85] = Rs. 480

∴ To get profit of 20% a Prakash need to cell watch to Rs. 480

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