Profit percentage received on a product when sold for Rs.550 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 20%.
Let the cost price of the article be Rs.x. According to the question, => 550 – x = x – 420 => 2x = 970 => x = 485 Selling price of the product at profit of 20% = 485 x 1.2 = Rs.582
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