The profit earned by selling an article for ₹1,664 is equal to the loss incurred when the article is sold for ₹896. What should be the selling price (in) if it is sold at a profit of 10%?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 1408.
Let the cost price be ₹x
⇒ Profit = ₹1664 − x
⇒ Loss = x − ₹896
Profit = Loss
⇒ 1664 - x = x - 896
⇒ 2x = 2560
⇒ x = 1280
SP = 110% of 1280 = ₹1408