A man wanted to sell an article with 20% profit, but he actually sold

1.	A man wanted to sell an article with 20% profit, but he actually sold at 20% loss for Rs. 480, At what price he wanted to sell it to earn the profit?1. Rs.7202. Rs.6003. Rs.8404. Rs.750
Answer» Correct Answer - Option 1 : Rs.720 Given: When he sold at 20% loss, Selling price = Rs. 480 Profit % = 20% Formula used: Profit = S.P – C.P Loss = C.P – S.P Profit % = (profit/C.P) × 100 Loss % = (loss/C.P) × 100 Calculation: Let the cost price be 'x'. Selling Price initially = Rs. 480 Loss = 20% of x ⇒ Loss = x/5 S.P = C.P + loss ⇒ S.P = x – x/5 ⇒ (4x)/5 = 480 ⇒ x = 600 Profit = 20% of 600 ⇒ Profit = Rs. 120 New selling price = C.P + profit ⇒ New selling price = 600 + 120 ⇒ Rs. 720 ∴ The new selling price when 20% profit gain is Rs. 720.

A man wanted to sell an article with 20% profit, but he actually sold at 20% loss for Rs. 480, At what price he wanted to sell it to earn the profit?1. Rs.7202. Rs.6003. Rs.8404. Rs.750

Answer» Correct Answer - Option 1 : Rs.720

Given:

When he sold at 20% loss, Selling price = Rs. 480

Profit % = 20%

Formula used:

Profit = S.P – C.P

Loss = C.P – S.P

Profit % = (profit/C.P) × 100

Loss % = (loss/C.P) × 100

Calculation:

Let the cost price be 'x'.

Selling Price initially = Rs. 480

Loss = 20% of x

⇒ Loss = x/5

S.P = C.P + loss

⇒ S.P = x – x/5

⇒ (4x)/5 = 480

⇒ x = 600

Profit = 20% of 600

⇒ Profit = Rs. 120

New selling price = C.P + profit

⇒ New selling price = 600 + 120

⇒ Rs. 720

∴ The new selling price when 20% profit gain is Rs. 720.

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