A Shopkeeper incurs a loss of 20% after selling a machine for Rs 4800. In order to gain a profit of 20% at what price should the shopkeeper sell the same machine?

Question

Question

This question was previously asked in

NTPC CBT-I (Held On: 5 Jan 2021 Shift 1)

Answer 1

Given:

Loss % = 20

Selling price of machine = Rs. 4800

Calculation:

Cost price = selling price + 0.80 cost price

⇒ 0.80 cost price = 4800

⇒ CP = 4800/0.80

⇒ 6000

To earn a 20% profit selling price = 1.2 cost price

⇒ SP = 1.2 × 6000

⇒ Rs. 7200

∴ SP of the machine is Rs. 7200

Alternate MethodCalculation:

Let the CP be 100%

According to the question

⇒ 80% = 4800

then, 120% = (4800 × 120)/80

⇒ Rs. 7200

∴ SP of the machine is Rs. 7200

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