The percentage profit earned by selling an article for Rs 2 000 is the same as the percentage loss i...........

Quantitative Aptitude (CGL) Profit and loss

The percentage profit earned by selling an article for Rs.2,000 is the same as the percentage loss incurred by selling the same article for Rs.1,200. At what price should that article be sold to make a profit of 20%?

This questions was previously asked in

Combined Graduate Level Examination Tier I 2023

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Rs.2,000

Rs.1,800

Rs.1,920

Rs.1,840

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Explanation:

- The problem states that the percentage profit when selling at Rs. 2,000 equals the percentage loss when selling at Rs. 1,200. This means the cost price (CP) is the midpoint between these two prices.

- Solve for CP: \( \frac{2000 + 1200}{2} = Rs. 1,600 \).

- If CP = Rs. 1,600, a 20% profit is calculated on the CP.

- Price for 20% profit: \( 1600 + 0.2 \times 1600 = Rs. 1,920 \).

- All options considered:

- Option 1, Rs.2,000: More than needed for exact 20% profit.

- Option 2, Rs.1,800: Less than needed.

- Option 3, Rs.1,920: Correct solution for 20% profit.

- Option 4, Rs.1,840: Still less than total required.