The profit earned on selling an article for Rs. 2000 is 19 times of the loss incurred on selling the same article for Rs. 1200. What is the profit percentage on this article at the selling price of Rs. 2000?
Show answer & explanation
Correct answer: C
Explanation
Let cost price = x rupees
According to the question,
2000 - x = 19(x - 1200)
2000 – x = 19x – 22800
24800 = 20x
x = Rs 1240
Profit = 2000 – 1240 = Rs 760
Profit Percentage = (760 / 1240) × 100
= 61.29 percent