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Asked in a 2000 paper

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

Correct answer: A. Rs. 2000

  • A. Rs. 2000
  • B. Rs. 2200
  • C. Rs. 2400
  • D. None of these

Explanation

Let the cost price be Rs. x. The profit at Rs. 1,920 equals the loss at Rs. 1,280, so 1,920 - x = x - 1,280, giving 2x = Rs. 3,200 and x = Rs. 1,600. A 25% profit requires Rs. 1,600 x 1.25 = Rs. 2,000. The likely mistake is Rs. 2,400, which adds 25% to the higher selling price rather than to the cost price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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