The profit percent earned by selling a centre table for Rs 13440 is equal to the loss percent made by selling the same centre table for Rs 10560. At what price should the article be sold to make 20% profit?
Answer & explanation
Correct answer: option 3
Let the cost price of the centre table = x
Profit at SP = 13440 = Loss at SP = 10560
Thus, 13440 - x = x - 10560
2x = 2880 or x = 12000
CP = Rs 12000
To make profit of 20%, SP = $\frac{6}{5}$ x 12000 = Rs 14400