A loss of 20 is made by selling an article Had it been sold for Rs 240 more there would have been a ...........

Quantitative Aptitude ( CCS) Profit and loss

A loss of 20% is made by selling an article. Had it been sold for Rs 240 more, there would have been a profit of 10%. What would be the selling price of the article if it is sold at 25% profit?

Rs 950

Rs 1020

Rs 975

Rs 1000

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Explanation:

Solution:
Loss = 20% = 1/5 (loss = 1, CP = 5)
CP – Loss = SP
5 – 1 = 4……….(1)
Profit% = 10% = 1/10 (Profit = 1, CP = Rs 10)
CP + P = SP
10 + 1 = 11 …….(2)
Make CP same in both equations (1) and (2) by multiplying (1) by 2. SO
10 – 2 = 8
And 10 + 1 = 11
So first, SP was 8, now is 11
So (11-8) -> 240
3 -> 240
So 10 (CP) -> 240/3 * 10 = 800
So after 25% profit SP -> 1000