The Profit earned by selling a jacket for Rs. 9610 is equal to the loss incurred by selling the same jacket for Rs. 7690. What should be the selling price of the jacket to earn 10 percent profit ?
Answer & explanation
Correct answer: option 4
Let cost price of the article be Rs. y, then
9610 – y = y – 7690
⇒ y + y = 1540 + 1140
⇒ 2y = 17300
⇒ y = 8650
∴ Selling price of the article if it is sold at 10% profit = 8650 × (\(\frac{110}{100}\)) = Rs. 9515.