Question
The profit earned when an article is sold for Rs. 1,500
is the same as the loss incurred on selling it for Rs. 700. Find the selling price of the article if it is sold at a profit of 20%.Solution
ATQ, Let the cost price of the article be Rs. 'C'. So, 1,500−C=C−700 Or, 2C=2,200 So, C=1,100 Therefore, selling price of the article at a profit of 20% = 1.20×1,100=Rs.1,320
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