Discussion :: Profit and Loss
- By selling an object for Rs 900, a man earns a profit that is double the loss incurred when the object is sold for Rs 450. If he sells it at a profit of 20%, find the selling price of this object.
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Answer : Option D
Explanation :
Apply formula:
Profit = selling price - cost price
Loss = cost price - selling price<
ATQ, Man earns a profit that is double the loss incurred when the object is sold for Rs 450.
Profit% = 2 (loss %)
S.P - C.P = 2* (C.P - S.P)
Let C.P = x
900 - x = 2* ( x- 450)
900 - x = 2x - 900
3x = 1800
x=600
That means C.P = 600
He earns a profit of 20% on selling the article.
To calculate S.P apply the formula:
S.P = [(100 + profit %) / 100] * C.P
S.P = [(100+20)/ 100] * 600
S.P = 120 * 6 = 720
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