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Question 65
A person wants to sell an item at a profit of 20% but he sold it for ₹ 480 at a loss of 20%. At what price should have he sold it to get the required profit?
Solution
Let the Cost Price be Rs.100x
Loss = 20%
Then, Selling Price = 80% of Rs.100x = Rs.80x
Given, 80x = Rs.480
=> x = Rs.6
Then, Cost Price = Rs.100x = Rs.600
Required profit = 20%
Then, Selling Price = 120% of Rs.600 = Rs.720.
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