Multiple choice

A shopkeeper sold an article for Rs. 2420 and earned a percentage profit equal to the percentage loss incurred by him when he sold the same article for Rs. 1580. What will be the selling price of the article, if he wants to make a profit of 25%?

  1. Rs. 2500

  2. Rs. 2650

  3. Rs. 2800

  4. Rs. 2850

  5. Rs. 3000
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let CP be x. Profit = 2420-x, Loss = x-1580. Profit% = Loss% -> (2420-x)/x = (x-1580)/x. 2420-x = x-1580 -> 2x = 4000 -> x = 2000. 25% profit on 2000 = 2000 * 1.25 = 2500.

AI explanation

Let the cost price of the article be C and the equal percentage profit or loss be y%. Using the selling price formula, C times (1 + y/100) = 2420 and C times (1 - y/100) = 1580. Adding these two equations gives 2C = 4000, so the cost price C is Rs. 2000. To make a 25% profit, the required selling price is 2000 times 1.25, which equals Rs. 2500.

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