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Question : The percentage profit earned by selling an article for Rs. 2,000 is the same as the percentage loss incurred by selling the same article for Rs. 1,200. At what price should that article be sold to make a profit of 20%?

Option 1: 2,000

Option 2: 1,800

Option 3: 1,920

Option 4: 1,840


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 3rd Jan, 2024

Correct Answer: 1,920


Solution : Let the cost price be $x$.
Profit % earned by selling at Rs. 2000 = $\frac{2000-x} {x}\times 100$
Loss % earned by selling at Rs. 2000 = $\frac{x-1200} {x}\times 100$
So, $\frac{2000-x} {x}\times 100=\frac{x-1200} {x}\times 100$
⇒ $2000-x=x-1200$
⇒ $x=(\frac{2000+1200}{2})$
$\therefore x$ = Rs. 1600
To make a 20% profit,
The selling price will be = $1600×(\frac{100+20}{100})$ = Rs. 1920
Hence, the correct answer is 1,920.

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