By selling an article for ₹ 320, a man

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Profit and Loss

Question:

By selling an article for ₹ 320, a man incurs a loss of 20%. What should be the selling price of an article to gain 20%?

Options:

₹ 450

₹ 480

₹ 420

₹ 500

Correct Answer:

₹ 480

Explanation:

Selling price of the article = 320

Loss incurred = 20%

Profit to be earned = 20%

New selling price = 320 × \(\frac{5}{4}\) × \(\frac{6}{5}\) = ₹ 480