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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
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B
Rs. 1200
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C
Rs. 1300
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D
Rs. 1400
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Solution

## The correct option is B Rs. 1200Let C.P. of the article be Rs. x.When S.P. is Rs. 1060, then Profit = 1060−xWhen S.P. is Rs. 950, then Loss = x−950According to the given condition, we have Profit =120%ofLoss⇒ 1060−x=120100×(x−950)⇒ 5(1060−x)=6(x−950)⇒ 5300−5x=6x−5700⇒ 11x=11000.⇒ x=1000.Desire S.P. = 120100×1000= Rs. 1200.

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