Question
Profit percentage received on a product when sold for Rs.560 is equal to the percentage loss incurred when the same product is sold for Rs.420. Find the selling price of the product if the shopkeeper wants to have a profit of 40%.
Solution
Let the cost price of the article be Rs.x. According to the question, => 560 – x = x – 420 => 2x = 980 => x = 490 Selling price of the product at profit of 40% = 490 x 1.4 = Rs.686
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