Question

By selling an article for $Rs700$, the loss is $20$. To make a profit of $20$, for how much should the article be sold?

Answer 1

Let $x$ be the cost price of article.

Therefore,

$x-\frac{20}{100}x=700$

$x-\frac{x}{5}=700$

$5x-x=3500$

$x=\frac{3500}{4}=875$

Thus the cost price of article is $Rs.875$.

Now to make profit of $20\%$,

Selling price

$=875+\frac{20}{100}\times 875=875+175=Rs.1050$

Hence, to make $20\%$ profit, the article should be sold for $Rs.1050$.