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
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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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