Question 89

‘A’ sold an article for Rs. 8000 and incurred a loss. Had he sold the article for Rs. 9800 his gain would have been twice the amount of loss. At what price should the article be sold to earn 20% profit ?

Solution

let the cost price of article be Rs C

As selling price is Rs 8000 ,loss = Rs (C - 8000 )

Now if selling price is changed to Rs 9800 then profit = Rs (9800 -C)

Given that 9800 - C = 2(C-8000)

C = 25800 /3 = Rs 8600

In order to earn 20 percent profit the selling price should be 1.2 C = 1.2 × 8600 = Rs 10320

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