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An article was sold at 9% loss. If it was sold at Rs. 126 more, there would have been a profit of 12% profit. What should be the selling price of the article to earn a profit of 20%?
1. Rs. 740
2. Rs. 700
3. Rs. 840
4. Rs. 720

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Correct Answer - Option 4 : Rs. 720

Given:

Loss % = 9%

Initial profit% = 12%

Price with profit - Price with loss = Rs. 126

Concept:

Consider the CP of the article to be 100a, then proceed.

Formula used:

If there is a profit of r%;

then SP = CP[(100 + Profit%)/100]

Calculation:

Let the Cost price of the article = 100a

∴ Selling price at 9% loss = 100a - (9/100) × 100a

= 100a - 9a

= 91a

Selling price at 12% profit = 100a + (12/100) × 100a

= 100a + 12a

= 112a

∵ 112a - 91a = Rs. 126

⇒ 21a = Rs. 126

⇒ a = 126/21

⇒ a = Rs. 6

∴ Cost Price of the article = 100a

= 100 × 6

= Rs. 600

∴ SP when profit is 20% = CP[(100 + Profit%)/100]

= 600[(100 + 20)/100]

= 600[(120/100)]

= Rs. 720 

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