Question : Anand wanted to sell a watch at a 10% profit, but he actually sold at a 10% loss for INR 360. At what price did he want to sell it to earn a profit?
Option 1: INR 360
Option 2: INR 400
Option 3: INR 340
Option 4: INR 440
Correct Answer: INR 440
Solution :
Selling price = INR 360
Loss = 10% of cost price
Cost price = selling price + loss
Cost price = 360 + 10% of cost price
⇒ 90% of cost price = 360
⇒ Cost price = $\frac{360}{0.9}$ = INR 400
Profit = 10% of cost price = $\frac{10}{100}$ × 400 = INR 40
Selling price = cost price + profit = 400 + 40 = 440
Hence, the correct answer is INR 440.
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