The percentage profit earned by selling an article for Rs 1920 is equal to the…
2023
The percentage profit earned by selling an article for Rs 1920 is equal to the percentage loss incurred by selling the same article for rs 1280 . At what price should the article be sold to make 25% profit ?
- A.
Rs 2400
- B.
Rs 2200
- C.
Rs 2000
- D.
Rs 2100
Attempted by 13 students.
Show answer & explanation
Correct answer: C
Answer: Rs 2000
Let the cost price be x.
Percentage profit when selling at Rs 1920 = ((1920 − x)/x) × 100. Percentage loss when selling at Rs 1280 = ((x − 1280)/x) × 100.
Set the two percentages equal: (1920 − x)/x = (x − 1280)/x. This simplifies to 1920 − x = x − 1280.
Solve: 1920 + 1280 = 2x, so 3200 = 2x and x = 1600. Thus the cost price is Rs 1600.
To make a 25% profit: Required selling price = 1600 × (1 + 25/100) = 1600 × 1.25 = Rs 2000.
Therefore the article should be sold for Rs 2000 to make a 25% profit.