Question

The percentage profit earned by selling an article for Rs. 2200 is equal to the percentage loss incurred by selling the same article for Rs. 1100. At what price should the article be sold to make 30% profit?
1. 2016
2. 2017
3. 2145
4. 2020
5. 2019

Answer 1

Correct Answer - Option 3 : 2145

Given: 

The article be sold to make 30% profit

Profit earned by selling an article for Rs. 2200 = Percentage loss by selling same article Rs. 1100

Formula used:

Percentage profit = [(selling price – cost price)/cost price] × 100

Calculation:

Let C.P. be Rs. X

Then,   [(2200 – X)/X] x 100 = [(X – 1100)/X] × 100

 ⇒ 2200 - X = X- 1100

 ⇒ 2x = 3300

 ⇒ x = 1650

Required S.P. = 130% of Rs. 1650

⇒ (130/100) x 1650               

 ⇒ 2145

∴ The price of article is 2145.