If a saree is sold for Rs. 2880, the seller will incur a loss of 10%. At what price should he sell it to gain a profit of 20%?
If a saree is sold for Rs. 2880, the seller will incur a loss of 10%. At what price should he sell it to gain a profit of 20%?
Solution
✅ Correct Option: 3
Given that the saree is sold for Rs. 2880 with a 10% loss.
When there is a 10% loss, the selling price is 90% of the cost price.
To gain a profit of 20%, the new selling price must be 120% of the cost price.
Therefore, the saree should be sold for Rs. 3840 to gain a profit of 20%.
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