Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

A man wanted to sell his cycle at 20%, profit but actually sold it at 20% loss for Rs960. At what price did he want to sell it to earn

the profit of 20%?

This questions was previously asked in

SSC MTS 13th October 2021 Shift-3

Rs1,420

Rs1,440

Rs1,450

Rs1,340

- The man sold his cycle at a 20% loss for Rs 960.

- Loss implies the selling price (SP) is less than the cost price (CP).

- Let CP = \( x \), then SP = \( 0.8x = 960 \).

- Solving for \( x \), CP = Rs 1,200.

- He wanted a 20% profit:

- Desired SP = \( x + 0.2x = 1.2x \).

- Desired SP = \( 1.2 \times 1200 = 1440 \).

- Option 2: Rs 1,440 is the correct price for a 20% profit.