A man sells 36 bags for Rs 3600, which results in a 20% loss. How many bags must he sell for Rs 3200 to make a 60% profit?
Show answer & explanation
Correct answer: B
Explanation
Given:
Selling Price of 36 bags = ₹3600; Loss = 20%
New Sales Value = ₹3200; Profit = 60%
3600 = CP × 0.8 ⇒ CP = 3600 / 0.8 = 4500 (for 36 bags)
CP of 1 bag = 4500 / 36 = 125
Let 'x' bags be sold.
3200 = x × 125 × 1.6
3200 = 200x
x = 16