Question

By selling an article for Rs. 240, a man incurs a loss of 10%. At what price should he sell it so as to make a profit of 20%?

• A. Rs. $264$
• B. Rs. $288$
• C. Rs. $300$
• D. Rs. $320$

Answer 1

The correct option is D Rs. $320$

Let the cost price be $x$
Then, $x-10$ % $x=240$
$90$% $x=240$
$x=240\times \frac{100}{90}$
$x=266.67$
For a profit of 20%, the selling price should be = $266.67\times 120$%
= $266.67\times 1.2$= $320$