Question
Download Solution PDFA man sold an article at a loss of 20%. If he could sell it for 1,200 more, he would make a profit of 5%. What is the cost price of the article?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A man sold an article at a loss of 20%. If he could sell it for ₹1,200 more, he would make a profit of 5%.
Formula used:
Let the cost price be ₹C.
Selling Price at 20% loss = 0.80C
Selling Price at 5% profit = 1.05C
Calculation:
1.05C - 0.80C = ₹1,200
⇒ 0.25C = ₹1,200
⇒ C = ₹1,200 / 0.25
⇒ C = ₹4,800
∴ The correct answer is option 4.
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