Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
109 views
in Profit and Loss by (237k points)
closed by
Profit earned by selling an article for Rs. 1,680 is the same as the loss incurred by selling the same article for Rs. 1,420. At what price, should it is sold to gain 20% profit. 
1. Rs. 1,860
2. Rs. 2,860
3. Rs. 3,600
4. Rs. 1,820

1 Answer

0 votes
by (239k points)
selected by
 
Best answer
Correct Answer - Option 1 : Rs. 1,860

Given:

Profit earned by selling an article for 1680 = loss incurred by selling same article for 1420

Profit percent have to be earned = 20%

Formula used:

Profit = Selling price – Cost price

Loss = Cost price – Selling price

% Profit = profit/cost price × 100

% loss = loss/cost price × 100

Selling price = (100 ± a %) /100 × C.P

Where + a% = percent profit,

And, – a% = percent loss

Concept used:

Profit and loss is always calculated on C.P

Calculation:

Let C.P of the article be X.

Profit earned by selling at 1680 = 1680 – X

Similarly, Loss incurred by selling at 1420 = X – 1420

Profit earned = loss incurred

1680 – X = X – 1420

2X = 1680 + 1420 = 3100

X = 3100/2 = 1550

C.P of article = X = 1550

% Profit = 20%

S.P = (100 + 20)/100 × 1550

⇒ 120/100 × 1550

⇒ 1860

∴ Selling price of article to gain 20% profit is Rs. 1,860.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...