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in Aptitude by (115k points)
A person sells a product at Rs. 360 and makes a 10% loss. What will be the selling price if 30% profit is to be made?
1. Rs. 525
2. Rs. 515
3. Rs. 520
4. Rs. 540

1 Answer

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Correct Answer - Option 3 : Rs. 520

Given:

The selling price of the product = Rs.360

Loss = 10%

Formulae Used:

If an article is sold at a loss of a%, then the Selling Price is:

SP = [(100 – a)/100] × CP

Similarly, if an article is sold at a profit of a%, then the Selling Price is:

SP = [(100 + a)/100] × CP

Calculation:

For a loss of 10%, we have:

360 = [(100 – 10)/100] × CP

⇒ 360 = 0.9CP 

⇒ CP = 360/0.9 = 400

For a profit of 30%, the SP becomes:

SP = [(100 + 30)/100] × 400

⇒ SP = 520

∴ The Selling Price of the article will be Rs.520

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