Akshay sells an article for Rs 500 and earned some profit The profit of that article is equalled to ...........

Quant (SSC) Profit and loss

Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?

350

370

375

325

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Explanation:

Selling price of an article = Rs 500;
Let the cost price of the article = x
Profit = Rs (500 – x)
Selling price of the article = Rs 225;
Loss = Rs (x – 225)
⇒ (500 – x) = 10 (x – 225)
⇒ 500 – x = 10x – 2250
⇒ 11x = 2750
⇒ x = 250
The cost prise of the article = Rs 250; Profit = 30%
Selling price = 250 x (100 + 130) / 100 = 325