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      Question

      The profit earned when an article is sold for Rs. 2,000

      is the same as the loss incurred on selling it for Rs. 1,200. Find the selling price of the article if it is sold at a profit of 40%.
      A Rs.1,520 Correct Answer Incorrect Answer
      B Rs.2,500 Correct Answer Incorrect Answer
      C Rs.1,500 Correct Answer Incorrect Answer
      D Rs.2,240 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ, Let the cost price of the article be Rs. 'C'. So, 2,000 − C = C − 1,200 Or, 2C = 3,200 So, C = 1,600 Therefore, selling price of the article at a profit of 40% = 1.40 × 1,600  = Rs.2,240

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