Question

    The profit gained from selling an item for Rs. 920 is

    equal to the loss faced when it is sold for Rs. 780. What would be the selling price of the item if it were to be sold at a 30% profit?
    A Rs. 1,175 Correct Answer Incorrect Answer
    B Rs. 975 Correct Answer Incorrect Answer
    C Rs. 1,200 Correct Answer Incorrect Answer
    D Rs. 1,105 Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article be Rs. 'C'. So, 920 - C = C - 780 Or, 2C = 920 + 780 So, 'C' = (1,700/2) = Rs. 850 Therefore, required selling price = 850 X 1.3 = Rs. 1,105

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