Question

By selling an article for Rs. 480 a person looses 20%. For what amount should he sell it to make a profit of 20% ?

• A. Rs. $800$
• B. Rs. $760$
• C. Rs. $720$
• D. Rs. $680$

Answer 1

The correct option is C Rs. $720$

Let's say the cost price was $C$.

If the person had a loss of $20\%$, then the selling price $=S=(1-0.2)C=0.8C$

It's given that, $S=480$ Rs.

$\Rightarrow 0.8C=480$

$\Rightarrow C=\frac{480}{0.8}=600$ Rs.

If he has to make a profit of $20$, his selling price$=(1+\frac{20}{100})C=1.2\times 600=720$ Rs.