Arithmetic

Profit & Loss

Medium

Profit earned by selling an article for Rs.1060 is 20% more than the loss incurred by selling the article for Rs.950. At what price should the article be sold to earn a 20% profit?

Rs 1100

Rs 1150

Rs 1200

Rs 1250

✅ Correct Option: 3

The problem involves three selling prices:

Rs. 1060 gives a profit
Rs. 950 gives a loss
Unknown price should give exactly 20% profit (to be found)

The profit from selling at Rs. 1060 is 20% more than the loss from selling at Rs. 950.

Let Cost Price $= CP$

When selling at Rs. 1060:

Profit $= 1060 - CP$

When selling at Rs. 950:

Loss $= CP - 950$

The profit is 20% more than the loss:

Profit $= 1.2 \times$ Loss

$1060 - CP = 1.2 \times (CP - 950)$

$1060 - CP = 1.2CP - 1140$

$1060 + 1140 = 1.2CP + CP$

$2200 = 2.2CP$

$CP = \dfrac{2200}{2.2}$

$CP = 1000$

For 20% profit:

Profit $= 20\%$ of $CP$

Profit $= \dfrac{20}{100} \times 1000$

Profit $= 200$

Selling Price $= CP + \text{Profit}$

Selling Price $= 1000 + 200$

Selling Price $= 1200$

The answer is Option 3: Rs. 1200

2023: 11 June Shift 2

The difference between the cost price and the selling price of an article is Rs. 240. If the profit is 20%, then the selling price is:

2022: 20 Aug Shift 1

To find the profit % made on a transaction which among the following is/are required ?

A. Cost Price and Discount on Market Price

B. Market Price and Discount %

C. Discount % of Market Price

D. Cost Price and Discount% on Market Price

Choose the correct answer from the options given below:

2023: 7 June Shift 1

The marked price of a chair is 150% of its cost price. A discount of 30% is given while selling the chair. What is the profit percentage ?

2023: 21 May Shift 1

If selling price of 80 articles is equal to the cost price of 100 articles, then find the gain percentage.

2026: 21 May Shift 2

A shopkeeper sells an article at a 10% profit. If the cost price had been ₹ 200 less and the selling price remains the same, his profit would have been 20%. What is the actual cost price of the article?

2026: 31 May Shift 2

The price of a jewel, passing through three sellers, rises on the whole by 65%. If the first and the second sellers earned 20% and 25% profit respectively. The percentage profit earned by third seller is?

Profit earned by selling an article for Rs.1060 is 20% more than the loss incurred by selling the article for Rs.950. At what price should the article be sold to earn a 20% profit?

Solution

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