Question : While selling an article for INR 8,442, a person suffered a loss of 30%. At what price he should have sold the article to earn a profit of 20%?
Option 1: INR 15,686
Option 2: INR 14,472
Option 3: INR 12,806
Option 4: INR 13,885
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Correct Answer: INR 14,472
Solution : Selling price = INR 8442 Loss = 30% of cost price Loss = cost price – selling price ⇒ 30% of cost price = cost price – 8442 ⇒ 8442 = 70% of the cost price So, the cost price = $\frac{8442}{0.7}$ = 12060 Profit = 20% of cost price Selling price = cost price + 20% of cost price = 120% of 12060 = INR 14,472 Hence, the correct answer is INR 14,472.
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