By selling an object for Rs 900, a man earns a profit that is double the loss incurred when the object is sold for Rs 450. If he sells it at a profit of 20%, find the selling price of this object.
Answer & explanation
Correct answer: option 4
Let the loss be x
Then profit = 2x
ATQ,
Cost price ⇒ 450 + x = 900–2x
3x = 450
x = 150
Cost price = 450 + x = Rs.600
Selling price at 20% profit = C.P. × 120% = 600 × 120% = Rs.720