| A man sold an article for Rs. 6800 and incurred a loss. Had he sold the article for Rs. 7850, his gain would have been equal to half of the amount of loss that he incurred. At what price should he sell the article to have 20% profit? |
| [IBPS (PO/MT) Pre 2015] |
A) Rs. 7500
B) Rs. 9000
C) Rs. 8000
D) Rs. 8500
E) Rs. 9200
Correct Answer: B
Solution :
| Let the loss incurred be \[Rs.\,\,x.\] |
| According to the question, |
| \[\Rightarrow \] \[CP=x+6800\] ... (i) |
| \[\Rightarrow \] \[CP+\frac{x}{2}=7850\] ... (ii) |
| On solving Eqs. (i) and (ii), we get |
| \[\Rightarrow \]\[x+6800+\frac{x}{2}=7850\]\[\Rightarrow \]\[\frac{3x}{2}=1050\] |
| \[\Rightarrow \]\[x=\frac{1050\times 2}{3}\] |
| \[\Rightarrow \]\[x=700\] |
| \[\Rightarrow \] \[CP=700+6800=Rs.\text{ }7500\] |
| SP to have 20% profit \[=7500\times \frac{120}{100}=Rs.\text{ }9000\] |
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