Question

A person by selling an article for Rs. $450$, loses $20\%$. In order to make a profit of $20\%$, what is the price at which he must sell the article?

• A. Rs. $500$
• B. Rs. $475$
• C. Rs. $575$
• D. Rs. $675$

Answer 1

Answer: (D)

Rs. $675$

Given that

Selling price $=SP=450$ rupees

Loss $=20\%$

cost price $=CP$

Loss $\%=20=\frac{CP-SP}{CP}\times 100\%$

$20\%=\frac{CP-450}{CP}\times 100\%$

$\Rightarrow CP=Rs.562.5$

To gain profit of $20\%$

$SP=120\%$ Of $CP$

$\Rightarrow SP=\frac{120}{100}\times 562.5$

$\Rightarrow SP=1.20\times 562.5$

$\Rightarrow SP=Rs.675$