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?
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.
Create a FREE account and get:
Quick, Easy and Effective Revision
By proceeding you agree to create your account
Free CAT Formulae PDF will be sent to your email address soon !!!
