SSC GD 2024 PYQ — Question 54

The correct answer is option 2 i.e. Rs. 4200.

Given that, SP in profit = Rs 4550

SP in loss = Rs 3290

SP = CP $\times {{100 + P }\over 100}$

SP = CP $\times {{100 - L }\over 100}$

Profit = SP - CP

Loss = CP - SP

Let the cost price and loss incurred be CP and L respectively.

Profit = 5L

According to the given question,

CP + 5L = 4550

⇒ CP = 4550 - 5L    ...(i)

CP - L = 3290

⇒ CP = 3290 + L     ...(ii)

Equating equations (i) and (ii),

⇒ 4550 - 5L = 3290 + L

⇒ 6L = 1260

⇒ L = 210

CP = 3290 + 210 

⇒ CP = 3500

Now, SP at 20% profit =  3500 $\times {{100 + 20 }\over 100}$

⇒ 35 × 120 = 4200

Hence the selling price of the article to earn a profit of 20 percent is Rs 4200.