Question : The profit earned by selling a jacket for Rs. 3860 is equal to the loss incurred by selling the same jacket for Rs. 1900. What should be the selling price of the jacket to earn a 10 percent profit?
Option 1: Rs. 3450
Option 2: Rs. 3168
Option 3: Rs. 3360
Option 4: Rs. 3250
Correct Answer: Rs. 3168
Solution :
Let the cost price of the jacket be Rs. C
For the profit scenario:
⇒ Selling price = Cost price + Profit
⇒ 3860 = C + Profit
⇒ Profit = 3860 – C
For the loss scenario:
⇒ Selling price = Cost price − Loss
⇒ 1900 = C − Loss
⇒ Loss = C – 1900
According to the question
Profit = Loss
⇒ 3860 – C = C − 1900
⇒ 2C = 5760
⇒ C = 2880
To get a profit of 10%, the selling price = 2880 + 10% of 2880
= 2880 + 288
= 3168
Hence, the correct answer is Rs. 3168.
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