Question

Profit earned by selling an article for Rs. $1,060$ is $20\%$ more than the loss incurred by selling the article for Rs. $950$. At what price should the article be sold to earn $20\%$ profit?

• A. Rs. $1100$
• B. Rs. $1200$
• C. Rs. $1300$
• D. Rs. $1400$

Answer 1

The correct option is B Rs. $1200$

Let C.P. of the article be Rs. $x$.

When S.P. is Rs. $1060$, then Profit $=$ $1060-x$

When S.P. is Rs. $950$, then Loss $=$ $x-950$

According to the given condition, we have

$\text{Profit}=120\%\text{of}\text{Loss}$

$\Rightarrow$ $1060-x=\frac{120}{100}\times (x-950)$

$\Rightarrow$ $5(1060-x)=6(x-950)$

$\Rightarrow$ $5300-5x=6x-5700$

$\Rightarrow$ $11x=11000$.

$\Rightarrow$ $x=1000.$

Desire S.P. $=$ $\frac{120}{100}\times 1000=$ Rs. $1200.$