Question

    Profit percentage received on a product when sold for

    Rs. 500 is equal to the percentage loss incurred when the same product is sold for Rs. 300. Find the selling price of the product if the shopkeeper wants to have a profit of 25%.
    A Rs. 520 Correct Answer Incorrect Answer
    B Rs. 550 Correct Answer Incorrect Answer
    C Rs. 500 Correct Answer Incorrect Answer
    D Rs. 560 Correct Answer Incorrect Answer

    Solution

    Let, the cost price of the article be Rs. x According to the question, 500 – x = x – 300 Or, 2x = 800 Or, x = 400 Selling price of the product at profit of 25% = 400 × 1.25 = Rs. 500

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