Question : A profit incurred by selling an article for INR 1,032 is equal to the loss incurred when the same article is sold for INR 648. What should be the selling price of the article if the profit is 30%?
Option 1: INR 2,520
Option 2: INR 1,050
Option 3: INR 1,092
Option 4: INR 998
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Correct Answer: INR 1,092
Solution :
Let the Cost Price be INR $x$
According to the question,
1032 – $x$ = $x$ – 648
⇒ 1680 = 2$x$
⇒ $x$ = $\frac{1680}{2}$
⇒ $x$ = 840
The selling price (SP) at 30% profit = $\frac{840×130}{100}$ = INR 1092
Hence, the correct answer is INR 1,092.
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