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.
| Question | 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. | |
| Type | multiple_choice | |
| Option | 620 | incorrect |
| Option | 618 | incorrect |
| Option | 554 | incorrect |
| Option | None of these | correct |
| Solution | 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 | |