Question

A trader incurs a loss of 20%by selling a product at a certain price . Had he sold it at ₹480 more he would have made a profit of20% . Find the cost price of the product

Answer 1

To make a profit of 20%, he has to sell the article for Rs. 720.

When he sells it for 480 he had lost 20%. So 80% of the actual price is 480. Hence the actual price of the article is (480×100÷80) = 600. To make a profit of 20% we have to calculate 120×600÷100=720.

Answer 2

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To make a profit of 20%, he has to sell the article for Rs. 720.

When he sells it for 480 he had lost 20%. So 80% of the actual price is 480. Hence the actual price of the article is (480x100=80) = 600. To make a profit of 20% we have to calculate 120×600÷1003D720.