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

By selling an article for Rs450, Riyan incurred a loss of 10%. At what price should he sell it to make a profit of 12%?

This questions was previously asked in

SSC MTS 6th July 2022 Shift-3

Rs440

Rs600

Rs560

Rs480

- When Riyan sold the article for Rs 450, he incurred a 10% loss.

- This means the cost price (CP) of the article was more than Rs 450.

- To find the CP, calculate: CP = Selling Price / (1 - Loss %). Thus, CP = 450 / 0.9 = Rs 500.

- To earn a 12% profit, Riyan needs to sell it for 1.12 times the CP.

- Calculate this as: Selling Price = CP * 1.12 = 500 * 1.12 = Rs 560.

- Option 1: Rs 440 is less than the CP and results in a loss.

- Option 2: Rs 600 is more than needed but gives more profit.

- Option 3: Rs 560 is the exact price for a 12% profit.

- Option 4: Rs 480 results in less than a 12% profit.