New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    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%.
    A Rs.686 Correct Answer Incorrect Answer
    B Rs.540 Correct Answer Incorrect Answer
    C Rs.450 Correct Answer Incorrect Answer
    D Rs.582 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    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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