The profit earned by selling an article for Rs 832 is equal to the loss incurred when the article is sold for Rs 448. What will be the selling price of the article if it is sold at a 10% loss?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs 576
Original Selling Price = Rs. 832
New Selling Price = Rs. 448
Profit earned by selling the article for Rs. 832 = Loss incurred by selling the article at Rs. 448
Profit = Selling Price - Cost Price
Loss = CP - SP
SP = CP × {(100 + Profit%)/100}
According to the question -
Profit earned by selling the article for Rs. 832 = Loss incurred by selling the article at Rs. 448
Original SP - CP = CP - New SP
832 - CP = CP - 448
2 × CP = 832 + 448
CP = 1280/2 = Rs. 640
Now, the selling price of the article if it is sold at a 10% loss = Rs. 640 - 10% = Rs. 576