Question : Ram sold a plot for Rs. 4,00,000 at a 20% loss. For what price should he sell the plot to gain a 5% profit?
Option 1: Rs. 5,25,000
Option 2: Rs. 5,20,000
Option 3: Rs. 5,00,000
Option 4: Rs. 5,05,000
Correct Answer: Rs. 5,25,000
Solution :
Here CP denotes the cost price, and SP denotes the selling price.
Let CP be Rs. $100x$.
Now, SP after 20% loss $= 100x × (100 – 20)$% $=80x$
And, SP after 5% profit $= 100x × (100 + 5)$% $=105x$
According to the question,
$80x =400000$
So, $105x = \frac{400000}{80} × 105=525000$
Hence, the correct answer is Rs. 5,25,000.
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