Question
Download Solution PDFThe percentage profit earned by selling an article for Rs. 2,000 is the same as the percentage loss incurred by selling the same article for Rs. 1,200. At what price should that article be sold to make a profit of 20%?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
1st Selling price (S.P)1 = Rs.2000
2nd Selling price (S.P)2 = Rs.1200
Formula used:
Profit = (S.P - C.P)
Loss = (C.P - S.P)
Where, C.P = cost price
Calculation:
According to the question:
⇒ (S.P1 - C.P) = (C.P - S.P2)
⇒ (2000 - C.P) = (C.P - 1200)
⇒ 2 × C.P = 3200
⇒ C.P = Rs.1600
Required profit % = 1600 × 120%
⇒ 16 × 120 = Rs.1920
∴ The correct answer is 1920.
Last updated on Jul 12, 2025
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