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SSC MTS 2022 PYQ — Question 66

SSC MTS - 25 July 2022 - Shift 1 • Quantitative Aptitude • Q66

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The profit earned when a painting is sold for ₹1,200 is 15 times the loss incurred when it is sold for ₹240. At what price should the painting be sold to make a profit of 40%?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. ₹420

Let the cost price of the painting be ₹x.

Now,

SP1 = ₹1,200 

SP2 = ₹240 

P1=15×LP_{1}=15\times L

SP1−CP=15(CP−SP2)SP_{1}-CP = 15\left ( CP -SP_{2}\right )

1200−CP=15(CP−240)1200 - CP = 15(CP-240)

1200 - CP = 15CP - 3600

4800 = 16CP

So,

CP = ₹300

Now,

P2 = 40% 

SP3 = CP + 40% of CP = 300 + 40% of 300

SP3 = 300 + 120 = ₹420

Hence,

The painting should be sold at ₹420.