QA – Placement Quizzes | Profit and Loss | Question 4
A shopkeeper sells an article at the price of Rs 1140 and incurs a loss of 5% on it. For him to gain a profit of 5% on the same article, at what price should the article be sold?
(A) Rs 1200
(B) Rs 1250
(C) Rs 1260
(D) Rs 1245
Explanation: Let the selling price be Rs a. We know,
(100 – Percentage of loss):(Original SP) = (100 + Percentage of profit):(New SP).
(100-5):1140 = (100+5):a
⇒ 95:1140 = 105:a
⇒ a = (105×1140)/95 = 1260.
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