A man sold an article for Rs 6800 and incurred a loss. Had he sold the article for Rs7850, his gain would have been equal to half of the amount of loss that he incurred. At what price should he sell the article to have 20% profit?Options9,0008,2507,5004,750
Question
A man sold an article for Rs 6800 and incurred a loss. Had he sold the article for Rs7850, his gain would have been equal to half of the amount of loss that he incurred. At what price should he sell the article to have 20% profit?Options9,0008,2507,5004,750
Solution
Let's solve this step by step:
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Let's assume the cost price of the article is 'x' Rs.
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The man sold the article for Rs 6800 and incurred a loss. So, the cost price 'x' is more than Rs 6800.
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If he sold it for Rs 7850, his gain would have been half the amount of the loss he incurred. So, the gain is (7850 - x) and the loss is (x - 6800).
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According to the problem, the gain is half the loss. So, we can set up the equation: (7850 - x) = 1/2 * (x - 6800).
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Solving this equation, we get x = Rs 7650. This is the cost price of the article.
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To have a 20% profit, he should sell the article for 120% of the cost price. So, the selling price should be 1.2 * 7650 = Rs 9180.
So, none of the options given in the question are correct. The man should sell the article for Rs 9180 to have a 20% profit.
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