Srinivas sold an article for Rs. 6800 and incurred a loss. Had he sold the article foe 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 = ?
A. Rs. 7500
B. Rs. 9000
C. Rs. 10680
D. Rs. 9600
Answer: Option B
Solution (By Examveda Team)
Let the cost price of a article be xThen, loss = (x - 6800)
Again, profit = (7850 - x)
According to given information we get
Now,
$$\eqalign{ & \left( {7850 - x} \right) = \frac{{x - 6800}}{2} \cr & \Rightarrow 15700 - 2x = x - 6800 \cr & \Rightarrow 2x + x = 15700 + 6800 \cr & \Rightarrow 3x = 22500 \cr & \therefore x = \frac{{22500}}{3} = 7500 \cr & {\text{If profit }}\% = 20\% {\text{ then}} \cr & \therefore {\text{SP}} = \frac{{7500 \times 120}}{{100}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.9000}} \cr} $$
This Question Belongs to Arithmetic Ability >> Profit And Loss
if we assume on selling at 6800 we had a loss of 100 rs. Then the profit will be half of the loss incurred which means 50 rs. altogether, 100+50 = 150, this is equal to the difference of (7850-6800) =1050.
now,
150 = 1050
1 = 7
100 = 700
this 700 is the actual loss incurred selling at 6800 rs, so the profit is 700/2 = 350 after selling at 7850.
if sp = 7850 then cp = 7850 - 350 = 7500
so, with 20% profit,
7500 * 6/5 = 9000 rs.
wrong answer