A person sold an article at Rs.1840 and profit incurred will be 12.5% more than and the loss incurred when article is sold at Rs.1500. At what price it should sell to get 20% profitQuestion 17Answera.1997b.1994c.1992d.1995
Question
A person sold an article at Rs.1840 and profit incurred will be 12.5% more than and the loss incurred when article is sold at Rs.1500. At what price it should sell to get 20% profitQuestion 17Answera.1997b.1994c.1992d.1995
Solution
Let's break down the problem step by step:
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Let's denote the cost price of the article as 'x'.
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According to the problem, the person sold the article at Rs.1840 and the profit incurred is 12.5% more than the loss incurred when the article is sold at Rs.1500.
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This means that if the person sells the article for Rs.1840, the profit is x - 1840.
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If the person sells the article for Rs.1500, the loss is x - 1500.
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According to the problem, the profit is 12.5% more than the loss. This can be written as: (x - 1840) = 1.125 * (x - 1500)
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Solving this equation for 'x' gives us the cost price of the article.
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Once we have the cost price, we can calculate the selling price for a 20% profit. This would be 1.2 * x.
Let's solve the equation from step 5:
(x - 1840) = 1.125 * (x - 1500)
x - 1840 = 1.125x - 1687.5
Subtract 'x' from both sides:
-1840 = 0.125x - 1687.5
Add 1687.5 to both sides:
-152.5 = 0.125x
Divide both sides by 0.125:
x = -152.5 / 0.125
x = 1220
So, the cost price of the article is Rs.1220.
To find the selling price for a 20% profit, multiply the cost price by 1.2:
Selling price = 1.2 * 1220 = Rs.1464
So, the person should sell the article for Rs.1464 to get a 20% profit.
Please note that none of the options (a.1997, b.1994, c.1992, d.1995) match the calculated answer. There might be a mistake in the problem or the provided options.
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