A person wants to sell an item at a profit of 20% but he sold it for Rs. 480 at a loss of 20%. At what price should have he sold it to get the required profit?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 720
Let CP of item be x Rs.
A/C to question
80% of x = 480
80x/100 = 480
x = 600
If a person wants to sell an item at a profit of 20%
SP = 600 + 20% of 600 = 600 + 120 = 720 Rs.