The profit earned by selling a jacket for Rs. 9610 is equal to the loss incurred by selling the same jacket for Rs. 7690. What should be the selling price of the jacket to earn 10 percent profit?

Question

Question

This question was previously asked in

SSC CHSL Tier-I Exam 2022 Official Paper (Held On: 10 March, 2023 Shift 3)

Answer 1

Given:

Profit earned by selling the jacket for Rs. 9610 is equal to the loss incurred by selling the same jacket for Rs. 7690.

Formulas:

Profit = Selling price - Cost price

Loss = Cost price - Selling price

Solution:

Let's assume the Cost price of the jacket = C

Profit = Rs. 9610 - C

Loss = C - Rs. 7690

Since the profit earned is equal to the loss incurred, we can set up the equation:

Rs. 9610 - C = C - Rs. 7690

To solve for C, we can simplify the equation:

2C = Rs. 9610 + Rs. 7690

2C = Rs. 17300

C = Rs. 8650

Now that we have the cost price (C), we can calculate the selling price for a 10% profit.

Profit = 10% of Cost price

Profit = (10/100) × Rs. 8650

Profit = Rs. 865

Selling price for a 10% profit = Cost price + Profit

Selling price for a 10% profit = Rs. 8650 + Rs. 865

Selling price for a 10% profit = Rs. 9515

Therefore, the selling price of the jacket to earn a 10% profit should be Rs. 9515.