If percentage of profit obtained by selling an item for Rs. 1420 is same as the percentage of loss incurred by selling a same product for Rs. 1260, what should be the selling of the product with 12.5% of profit?Question 3Answera.1387.5b.1507.5c.1485.7d.1400
Question
If percentage of profit obtained by selling an item for Rs. 1420 is same as the percentage of loss incurred by selling a same product for Rs. 1260, what should be the selling of the product with 12.5% of profit?Question 3Answera.1387.5b.1507.5c.1485.7d.1400
Solution
Let's denote the cost price of the item as 'x'.
According to the problem, the percentage of profit obtained by selling the item for Rs. 1420 is the same as the percentage of loss incurred by selling the item for Rs. 1260.
This can be written as:
(1420 - x)/x * 100 = (x - 1260)/x * 100
Solving this equation, we get:
1420 - x = x - 1260
This simplifies to:
2x = 1420 + 1260
2x = 2680
So, x = 2680 / 2 = 1340
This means the cost price of the item is Rs. 1340.
Now, we need to find the selling price of the product with a 12.5% profit.
The profit is calculated as a percentage of the cost price, so a 12.5% profit on a cost price of Rs. 1340 would be:
Profit = 12.5/100 * 1340 = 167.5
So, the selling price with a 12.5% profit would be:
Selling price = Cost price + Profit = 1340 + 167.5 = Rs. 1507.5
So, the answer is (b) 1507.5.
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