The percentage profit earned by selling an article for ₹2,000 is the same as the percentage loss incurred by selling the same article for ₹1,200. At what price should that article be sold to make a profit of 20%?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹1,920
Let the cost price of the article be C
The profit earned by selling an article for ₹2,000 = loss incurred by selling the same article for ₹1,200
According to the question
⇒ 2000 - C = C - 1200
⇒ 2C = 3200
⇒ C = 1600
Now, profit gets 20%
The selling price = 1600 × 120/100 = ₹1920