By selling an article for ₹600, a shopkeeper makes a profit of 20%. At what price should he sell the article to incur a loss of 20% ?
Answer & explanation
Correct answer: option 2
Selling price of the article = 600
Profit = 20%
and he wants a loss of = 20%
So,
120% of CP = 600
Then 100% of the CP = \(\frac{600}{120}\) × 100 = 500
Selling price of the article at 20% loss = 80% of CP
= 80% of 500 = 400