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 rs 320, a man incurs a loss of 20%. What should be the selling price of an article to gain 20%?

rs 450

rs 480

rs 420

rs 500

- To solve the problem, first determine the cost price (CP) required to calculate the new selling price (SP) for a desired gain.

- If selling at Rs 320 incurs a 20% loss, find the CP:

- CP = Selling price / (1 - Loss%)

- CP = 320 / 0.8 = Rs 400

- To achieve a 20% gain:

- New SP = CP * (1 + Gain%)

- New SP = 400 * 1.2 = Rs 480

Option 2: Rs 480

- This is the correct selling price for a 20% gain.