Correct Answer - Option 3 : 40
Given:
Selling Price of 20 Umbrellas = 2400.
Loss = 20%
Concept:
If an item is sold at a profit of x%, and the CP = y
Then, SP = [(100 + x)/100] × y
Similarly,
If an item is sold at a loss of a%, and the CP = y
Then, SP = [(100 - a)/100] × y
Calculation:
Let the number of umbrellas to be sold be x
Now, the unit SP = 2400/20 = Rs.120
Hence, the unit CP is obtained as:
120 = [(100 - 20)/100] × CP
⇒ Unit CP = Rs.150
Now, for a profit of 20%, the SP of the each umbrellas has to be:
7200/x = [(100 + 20)/100] × 150
⇒ 7200/x = 180
⇒ x = 40
∴ The number of umbrellas to be sold is 40