Question : By selling a watch for INR 1,600, a person gets a profit that is equal to the loss of selling the same watch for INR 1,400. If the person wants to get a profit of 20%, at what price should he sell the watch?
Option 1: INR 1800
Option 2: INR 1700
Option 3: INR 1850
Option 4: INR 1750
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Correct Answer: INR 1800
Solution : Given: By selling a watch for INR 1,600, a person gets a profit equal to the loss of selling the same watch for INR 1,400. Here the cost price is denoted by CP, the selling price is denoted by SP. So, the CP = $\frac{1600+1400}{2}$ = INR 1500. Now to get 20% profit, The SP = $\frac{1500×120}{100}$ = INR 1800. Hence, the correct answer is INR 1800.
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