The percentage profit earned by selling an article for ₹1,910 is equal to the percentage loss incurred by selling the same article for ₹1,690. At what price (in ₹) should the article be sold to make a 12% profit?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 2016.
Let the cost price be C.
Percentage Profit = Percentage Loss
(1910 − C)/C × 100 = (C − 1690)/C × 100
⇒ 1910 - C = C - 1690
⇒ 1910 + 1690 = 2C
⇒ 3600 = 2C
⇒ C = 1800
To find the selling price for a 12% profit:
Selling Price = Cost Price + Profit
Profit = 12% of Cost Price
Profit = 0.12 × 1800
Profit = 216
Selling Price = 1800 + 216
Selling Price = 2016
The selling price to make a 12% profit is ₹2016.