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Discussion :: Profit and Loss

  1. 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.

    2. A.
    620
    B.
    618
    C.
    554
    D.
    None of these

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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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