Rekha has two laptops of the same kind. She sold one of them at ₹32,000 and incurred a loss of 20%. At what price (in ₹) should she sell the second laptop to gain a profit of 20%?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 48,000.
When Rekha sold the first laptop for ₹32,000, she incurred a 20% loss.
This means ₹32,000 represents 80%
(100% - 20%) of the original cost price.
To find the full cost price = 0.80 × Cost Price = ₹32,000
The Cost Price = ₹32,000/0.80 = ₹40,000
For a 20% profit on the second laptop,
The selling price should be 120% of the cost price
Therefore, Selling Price = 1.20 × ₹40,000 = ₹48,000