A shopkeeper earns the same percent of profit as well as loss by selling two similar pieces of a furniture for ₹18000 and ₹10000, respectively. At what price should he sell it to earn a profit of 50%?
Answer & explanation
Correct answer: option 1
Direct concept =
When the profit and the loss occurred is same on selling an article at different selling price then the cost price of the article is the mean of these two selling prices.
So first selling price = 18000
second selling price = 10000
Cost price = \(\frac{18000 + 10000}{2}\) = 14000
Profit to be earned = 50%
So the selling price = 150% of 14000 = 21000