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Profit earned by selling an article for Rs. $1, 060$ is $20$ % more than the loss incurred by selling the article for Rs. $950$ . At what price should the article be sold to earn $20$ % profit?

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Rs.

1000

Rs.

1150

Rs.

1, 250

Rs.

1, 200

answer is D.

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Detailed Solution

It is given that profit earned is

Rs . 1060

and it is

20 %

more than the loss incurred by selling the article for

Rs . 950

.
Let C.P. be Rs

x

.
Then,

\Rightarrow (1060 - x) = \frac{120}{100} \times (x - 950)

\Rightarrow 10600 - 100 x = 120 x - 120 \times 950

\Rightarrow 220 x = 220000

\Rightarrow x = 1000

∴

Desired S.P. =

\frac{120}{100} \times 1000

\Rightarrow S . P . = Rs .

1200
So, the article should be sold at

Rs . 1200

.
Hence, the correct option is 4.

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